MLR Auto, Vidyuttech join forces to boost electric three-wheeler adoption in India

MLR Auto Limited, a Greaves Electric Mobility Private Limited (GEMPL) subsidiary, has joined forces with Vidyuttech, a renowned financing platform and lifecycle management service provider.

The partnership aims to offer flexible financing for MLR’s electric three-wheelers. This alliance is expected to foster broader adoption of electric vehicles across India, thanks to Vidyuttech’s lifecycle management expertise and advantageous financial terms.

Vidyuttech’s unique pay-per-kilometer battery lease offering, alongside a competitive interest rate of around 10%, aims to make electric three-wheelers an affordable and sustainable choice. Further enhancing accessibility, Vidyuttech has committed to providing over 90% on-road funding, drastically reducing the initial downpayment burden for potential customers.

The collaboration received enthusiastic responses from the executive management of both firms. Nirmal NR, Chief Executive Officer & Wholetime Director, MLR Auto Limited, said, “We are delighted to partner with Vidyuttech to enhance the adoption of electric vehicles in the L5 segment. This partnership will provide our customers with accessible and hassle-free financing options, simplifying their transition to electric three-wheelers and contributing to a more sustainable and emission-free future.”

Expressing similar sentiments, Xitij Kothi, Co-Founder of Vidyuttech, stated, “We are very excited to partner with MLR Auto. Our battery leasing and low-cost financing is designed to make EV transition a no-brainer for our customers.”

This strategic alliance aligns perfectly with GEMPL’s vision of transforming last-mile mobility in India through sustainable solutions. It provides MLR’s customers with enhanced financial flexibility and convenience in their pursuit of EV ownership, powered by Vidyuttech’s competitive interest rate and commitment to extensive funding.