Hala Mobility has secured INR 1 crore from EV finance platform Perpetuity Capital to bolster their fleet expansion efforts.
Furthermore, Hala Mobility has formed a strategic relationship with Perpetuity Capital to fund an additional 500 Electric 2W cars over the following year. This alliance intends to provide direct support for last-mile delivery drivers and gig economy workers who want to buy electric vehicles (EV)for commercial usage.
With a current fleet of over 2,500 Electric 2-wheelers on their last-mile logistics network, supporting over 40,000 deliveries per day, the cash injection will allow Hala Mobility to expand its fleet size and enter new geographical regions.
Expressing enthusiasm about the partnership, Karamveer Dhillon, Founder of Perpetuity Capital, stated, “We are thrilled about our collaboration with Hala Mobility. Our joint efforts will integrate our technological infrastructure, empowering gig economy workers to access quicker EV loans and address their evolving credit requirements.”
Srikanth Reddy, Founder and CEO of Hala Mobility, said, “As we witness the transformative potential of electric mobility, our alliance with Perpetuity Capital represents a pivotal milestone in our mission to revolutionize last-mile logistics. With this capital injection, we are well-positioned to not only expand our fleet but also empower more drivers to adopt sustainable transportation solutions.”