Three Wheels United (TWU), a Bengaluru-based tech-enabled financier of light electric vehicles, has forayed into the cargo segment through a partnership with leading intracity logistics company Porter. Through this partnership, Three Wheels United will facilitate loans for partner drivers of Porter to easily switch from conventional cargo autos to EV cargo vehicles. This partnership is in line with Three Wheels United’s commitment to increase the adoption of electric auto-rickshaws in India and promote sustainable mobility.
As per a report by Greenpeace South East Asia, the economic cost of air pollution is at an estimated $150 billion in India. The report states that clean transport and renewable energy not only bring significant reductions in toxic pollutants but also help to keep climate change-causing greenhouse gases out of the atmosphere. A switch from conventional engines to electric three-wheelers can reduce carbon emissions and substantially contribute towards bringing down air pollution.
Porter has have partnered with Three Wheels United to provide easy financing options and help its driver-partners procure EVs at lucrative terms. This partnership will provide a great opportunity for the partner drivers to shift to a more economical, highly profitable and less pollutive vehicle, Pranav Goel, CEO and Co-Founder, Porter, said.
TWU’s expansion into the cargo and logistics segment is another significant step towards its committed plan to remove barriers to increase the adoption of EVs in India. The goal is to reduce the climate impact of the transportation sector by helping drivers of three-wheelers seamlessly switch to cleaner mobility, Cedrick Tandong, CEO and Co-Founder, Three Wheels United, said.
To date, Three Wheels United has worked with over 30,000 drivers offering them various products and services, financed 3000+ auto-rickshaws resulting in a reduction of 22,000 tonnes of CO2 emissions, and the generation of an extra $20M in income for the drivers. It has financed over 100 EV vehicles and has closed a deal for the next 500 vehicles over the next two months.
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