Greaves Electric Mobility’s associate company, MLR Auto has signed an agreement with Revfin Services (Revfin), an advanced digital consumer lending platform.
GEMPL aims to accelerate the adoption of electric three-wheelers by the bottom-of-pyramid customers, for whom savings offered by EVs are an important factor that impacts their livelihood.
Revinfin has its own NBFC to issue the loan amount using non-traditional data and the three key techniques – Biometrics, Psychometrics and Gamification, that focus on financing commercial electric vehicles for individual drivers and it is conveniently delivered digitally through an App.
The electric three-wheelers for passenger and cargo mobility have a big role to play in driving sustainable last-mile mobility across India.
This partnership with an electric vehicle financing entity marks the first of its kind for the company’s E3W portfolio and will initially take effect in North and East India, with plans to expand nationwide in the near future.
Sanjay Behl, CEO & Executive Director, Greaves Electric Mobility said, “We are delighted that MLR Auto, an associate company of GEMPL joins hands with Revfin for further advancing the Indian cargo and passenger three-wheeler sector to a more sustainable and emission-free future. Through this agreement, we will enhance customer access to hassle-free and easy financing options, simplify the purchase journey, and lower the barriers of entry to electric three-wheeler adoption.”
Sameer Agrawal, CEO and Founder, Revfin Services said, “We are very hopeful and excited about joining hands with MLR Auto as it will enable us to expand our footprint in the EV ecosystem. The next critical advancement in the industry will be the electrification of cargo 3-wheelers, and our collaboration will escalate the adoption of EVs in this market segment. With this agreement, we are also increasing our market share for passenger three-wheelers. Together, we will strive to provide our end clients with a seamless, pollution-free delivery service while minimizing the effects of carbon emissions on last-mile delivery.”
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