Shigan Group in pact with PNB for electric vehicles

Gurgaon-based Shigan Group, which manufactures and sells electric vehicles Green Rick and Green Cart, has joined hands with Punjab National Bank and several other microfinance companies in a bid to provide financing options to its prospective customers.

By: | Updated: March 19, 2016 7:04 PM

Gurgaon-based Shigan Group, which manufactures and sells electric vehicles Green Rick and Green Cart, has joined hands with Punjab National Bank and several other microfinance companies in a bid to provide financing options to its prospective customers.

The company, which has an initial manufacturing capacity of 2,000 units per month has already set up a network of dealerships in 12 states, mainly in the northern part of the country.

Vipul Bajpai, head of electric mobility at the Shigan Group said that the demand for the electric vehicles is growing rapidly in states like Uttar Pradesh and Madhya Pradesh, where more cities are opening up registrations and assisting in creating supporting infrastructure for the e-vehicles. “As more states open up to electric vehicles, the demand can easily touch the one million mark,” he said, adding that around 50,000 registered electric vehicles are on roads currently.

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