In order to deliver over 600 modified ICE-to-EV 3-Wheel L-5N Cargo Vehicles in India within nine months, AMU Leasing Pvt Ltd, 3ev Industries Pvt Ltd, and 3eco Systems Pvt Ltd have unveiled a new partnership.
Building on its current collaboration with 3ev, AMU Leasing will introduce India’s first commercially successful ICE-to-EV converted 3-wheel L-5N, the e30x, as part of the alliance. By updating its functions and features, the e30x is anticipated to improve the vehicle’s overall performance. It will also support 3eco’s plans to extend its operations in Mumbai with top corporate clients like Amazon, Flipkart, DHL, Big Basket, Decathlon, and Porter, among others.
Building on the collection of more than 1000 recently constructed EVs already in operation at 3eco, the partnership is anticipated to hasten the adoption of EVs in hyper-local transportation services. With all 600 EVs expected to be sold and registered as RTOs within nine months, 3eco has already completely committed to providing turnkey last-mile services to top enterprise end-customers under multi-year contracts.
AMU Leasing, India’s top and sole woman-led technology-driven NBFC company servicing the EV ecosystem, will enable retro-fitment financing up to 80% as part of the partnership. Across the country, AMU Leasing hopes to implement retrofits at a 20% market share.
According to Nehal Gupta, Director of AMU Leasing, “AMU Leasing recognizes the significance of supporting innovative solutions that can promote sustainable revenue production as a technology-driven NBFC in the BFSI sector. In addition to improving vehicle efficiency, we are aiding India’s effort to achieve net zero carbon emissions by the year 2070 by funding the retrofitting of ICE to EV Conversion Kits. We are honored to work with 3ev Industries and 3eco Systems to comprehend the cutting-edge technology of these electric vehicles and anticipate market requirements, where leasing, financing, and buying are all handled in an easy-to-follow manner. We at AMU Leasing work hard to set the bar high when it comes to selecting financial goods that support green efforts for the benefit of the environment.
The effort is anticipated to have a positive environmental effect and help India achieve its goal of having a net zero carbon emissions economy by 2070. This partnership is a major move towards the widespread adoption of EVs in India.
“The targeted Diesel (ICE) vehicles for conversions are in their last years of life (Road life), often more than 10 years old,” said Karan Kadaba, President & Director of 3ev and 3eco. In the present climate of high energy costs, these vehicles emit a lot of pollution and are less efficient and cost-effective. A fresh car registration with a renewed life cycle results from the 3ev ICE-to-EV conversion. With several lakh kilometers of dependable performance over the past 18 months, 3eco has demonstrated the e30X’s economic feasibility.
Peter Voelkner, MD of 3ev and 3eco, said, “3ev makes the best in breed 3-wheel EVs engineered to proven, real-world specifications. Unlike the newly built EVs that are manufactured at our plant in Bengaluru, the e30x and e30c (passenger variant) shall be produced at our wholly-owned conversion business, named 3C (Certified Conversion Centres). The vehicles are fully supported and serviced by our local teams with a 3-years or 60,000 km warranty. The battery rental contracts tied to each vehicle sale also provide the lowest TCO in the marketplace today. This is driven by the demand from our customers to accelerate the electrification of transport and the digitalization of hyper-local connectivity services in India and beyond.”
