Turno a provider of EV financing solutions, and Etrio Automobiles, a maker of electric light commercial vehicles, have formed a long-term strategic alliance. The Memorandum of Understanding, which the two businesses signed, covers the initial financing and deployment of 1,000 electric three-wheeled cargo vehicles made in Etrio over the course of the following year.
“Touro Max” 3W model vehicle from Etrio used for a range of first-mile and last-mile logistics and commercial transportation cases. Gas delivery, e-commerce logistics, and creative commercial EV usage cases are examples.
They already have a significant presence there and intend to spread their influence throughout India. In order to provide a better customer experience, Etrio and Turno will also collaborate to improve vehicle intelligence.
Together, Etrio and Turno will develop advanced EV financing options.
The partnership between Etrio and Turno will enable them to carry out their shared mission to strengthen the EV ecosystem, add value by raising asset values and boost EV adoption in the nation.
Kalyan C Korimerla, MD & Cofounder, Etrio, spoke about the importance of the partnership. “Today we are advancing toward a future in which smart EV adoption is bound to accelerate due to better performance. We also provide superior asset economics for our customers through Turno’s innovative financing solutions.”
“ Partnership is aligned with our growth agenda in 3 ways – First, it will allow us to scale up our vehicle deployments across various Commercial EV use cases, Pan India; secondly it will help us offer affordable EV financing options to our customers and thirdly, it’ll increase our overall value proposition for our customers through vehicle intelligence and data analytics solutions.”
Hemanth Aluru, CEO & co-founder, of Turno, says, “The partnership we have with Etrio aligns with our vision of creating viable financial solutions to encourage commercial EV adoption. Etrio already has extensive knowledge and insight into electric vehicles’ performance across various terrains and multiple uses. Etrio can now draw immense value from the data it has gathered. They can use this to assess how the vehicles will perform over a range of different uses and lifespans. ”
