Greaves Cotton Limited electric mobility branch, Greaves Electric Mobility Private Limited (GEMPL), has joined with Shriram Finance, a Shriram Group-owned financial services provider. The collaboration aims to make Greaves Electric Mobility’s three-wheelers more accessible by offering tailored financing solutions, such as customizable EMI plans and down payment options.
Shriram Finance’s pan-Indian network would help improve last-mile transportation in the passenger and freight sectors. Greaves Electric Mobility’s goal of expanding the country’s consumer base for electric vehicle adoption through its 3W product line, which includes Greaves 3 Wheelers, Eltra City, and Eltra Cargo, aligns with this deal.
The deal was signed in the presence of Gopinath TA, Assistant Vice President of Shriram Finance, Chandrasekar R, Shriram Finance’s Joint Managing Director, and K Vijaya Kumar, Executive Director and CEO of Greaves Electric Mobility.
According to K Vijaya Kumar, funding accessibility is critical to the expansion of three-wheeler adoption for last-mile travel in India since it allows customers of various financial means to consider sustainable mobility solutions. He went on to note that these agreements contribute to India’s bigger goal of becoming a hub for electric vehicles while also enhancing drivers’ lives by offering a variety of down payment options and appealing EMI plans.
According to Gopinath TA, Assistant Vice President of Shriram Finance, the two companies’ relationship aims to expand accessibility to mobility for last-mile passenger and cargo transportation across a variety of fuels.
Greaves Electric Transportation is trying to improve the accessibility and cost-effectiveness of three-wheeler transportation options across India, and this partnership is a step toward that goal.
