MLR Auto a subsidiary of Greaves Electric Mobility Private Limited (GEMPL), has a contract with Revfin Services Private Limited, a cutting-edge digital platform for consumer lending that makes obtaining a loan simple and available to everyone. The fintech platform has its own NBFC to issue the loan amount using unconventional data and the three crucial techniques – Biometrics, Psychometrics, and Gamification – that focus on financing commercial electric vehicles for individual drivers & it is conveniently delivered digitally through an App. With this, GEMPL hopes to hasten the uptake of electric three-wheelers by bottom-of-pyramid customers, for whom the financial benefits of EVs are a significant factor affecting their way of life.
Electric 3-wheelers for passenger and cargo Electric Mobility has a big role to play in driving sustainable last-mile Electric 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.
Commenting on this tie-up, Sanjay Behl, CEO & Executive Director, of Greaves Electric Mobility Private ltd said, “We are delighted that MLR Auto Limited, 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. Our electric 3-wheeler customers depend on our vehicles for their livelihood, and by ensuring easy financing, we are not just giving them an assured way of earning a livelihood, but we are also empowering their lives through the savings that our EVs offer.”
“We are very hopeful and excited about working with MLR Auto Limited as it will allow us to expand our footprint in the EV ecosystem,” said Sameer Agrawal, CEO and Founder of Revfin Services Private Ltd. The electrification of cargo 3-wheelers will be the next crucial development for the sector, and our cooperation will accelerate EV adoption in this market niche. We are also boosting our market share for passenger three-wheelers with this agreement. Together, we’ll work to minimize the impact of carbon emissions on last-mile delivery while delivering seamless, pollution-free services to our end customers.
