Greaves Electric Mobility collaborates with Bike Bazaar Finance to provide finance solutions for electric three-wheeler

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Updated On: 13-Jun-2023 06:57 AM

This is Bike Bazaar's first collaboration with a Greaves Electric Mobility E3W company, and it will begin in UP and Bihar.

This is Bike Bazaar's first collaboration with a Greaves Electric Mobility E3W company, and it will begin in UP and Bihar.

Greaves Electric Mobility (GEMPL), a Greaves Cotton company, has partnered with Bike Bazaar Finance to provide finance for GEMPL's ELE-branded L3 electric vehicles. This is Bike Bazaar's first collaboration with an E3W company, and it will begin in UP and Bihar. The main aim of this collaboration is to extend nationwide in the near future.

Bike Bazaar Finance offers finance of up to 85 per cent of the on-road price. As a result, it will allow more clients to access GEMPL's ELE L3 electric vehicles.

Greaves Electric Mobility CEO and Executive Director Sanjay Behl stated, "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."

Also Read: Mahindra Last Mile Mobility is India’s No.1, electric 3-wheeler manufacturer and sold 36,816 EVs in FY23

"As a company dedicated to positively impacting the ESG space, we share a common vision with GEMPL towards a sustainable world. We are confident that our collaboration would pave the way for new milestones in the three-wheeler industry and further India's clean energy cause," said Karunakaran V, Joint MD & Co-Founder, Bike Bazaar Finance.

GEMPL revealed its vision for ushering India into a sustainable future through last-mile mobility at the recent Auto Expo by offering three-wheelers for passenger and cargo mobility. According to Vahan Data, electric three-wheeler sales have reached 3.53 lakh units as of YTD FY'23 (06-Mar-23), demonstrating a growing desire for clean mobility options.