Greaves Electric Mobility, Bike Bazaar Finance to boost e-mobility sector
Greaves Electric Mobility Private Limited (GEMPL) has partnered with Bike Bazaar Finance in a game-changing agreement that aims to accelerate the adoption of electric vehicles in India.
The partnership, marking the first of its kind for Bike Bazaar, will finance Greaves Electric Mobility’s ELE-branded L3 electric vehicles. Initiated in Uttar Pradesh and Bihar, the collaboration has plans for a nationwide expansion in the near future.
Bike Bazaar Finance, a registered non-banking finance company with the Reserve Bank of India, is dedicated to retail financing of pre-owned and new vehicles. With this alliance, they aim to broaden their reach by financing up to 85% of the on-road price of Greaves Electric Mobility’s ELE L3 electric vehicles, thus, opening the doors to a larger customer base.
The strategic partnership promises mutual benefits for both Greaves Electric Mobility and Bike Bazaar Finance, apart from serving the customers.
V Karunakaran — Bike Bazaar Finance Jt. MD and Co-Founder said: “Greaves Electric Mobility’s initiative towards promoting clean energy through electric vehicles is something that Bike Bazaar takes great pride and privilege in partnering with.
“As a company dedicated to positively impacting the ESG space, we share a common vision with GEMPL towards a sustainable world. We are optimistic that our partnership will pave the way for new milestones in the three-wheeler industry and further the cause of clean energy in India.”
Greaves Electric Mobility, the e-mobility business of Greaves Cotton Limited, is committed to bringing innovative and sustainable mobility solutions to the Indian market. This collaboration will significantly enable Greaves Electric Mobility to reach a wider demographic across the nation.
This development is seen as a significant milestone in India’s rapidly growing e-mobility sector. It embodies an advancement that could potentially drive the further adoption of electric vehicles and boost the shift towards more sustainable transportation solutions in India.
Greaves Electric Mobility aims to revolutionize last-mile mobility in India by promoting sustainability. At the recent Auto Expo, Greaves Electric Mobility unveiled its vision to usher India into a sustainable future through last-mile mobility by introducing three-wheelers for passenger and cargo mobility.
Sanjay Behl — Greaves Electric Mobility CEO and Executive Director said: “We are thrilled to announce that we have partnered with Bike Bazaar Finance to further accelerate the adoption of the L3 electric three-wheeler sector and move towards a more sustainable and emission-free future.
“This agreement aims to improve customer access to hassle-free and easy financing options, streamline the purchase process, and reduce barriers to adopting electric three-wheelers.”
Earlier this year, Greaves Electric Mobility (GEMPL), through its associate company MLR Auto, forged a partnership with digital consumer lending platform Revfin Services to provide flexible financing options for the electric three-wheeler portfolio.