Greaves Electric Mobility (GEMPL) subsidiary, the e-mobility business of Greaves Cotton has signed a agreement with Bike Bazaar Finance to provide financing for GEMPL’s ELE-branded L3 electric vehicles. This partnership with an E3W company is the first-of-its-kind for Bike Bazaar and will initially take effect in UP and Bihar, with plans to expand nationwide in the near future.
By offering to finance up to 85 percent of the on-road price, Bike Bazaar Finance will enable more customers to access GEMPL’s ELE L3 electric vehicles.
Sanjay Behl, CEO & Executive Director, Greaves Electric Mobility said, “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.”
Karunakaran V, Joint MD & Co-Founder, Bike Bazaar Finance said, “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.”
At the recent Auto Expo, GEMPL unveiled its vision to usher India into a sustainable future through last-mile mobility by introducing three-wheelers for passenger and cargo mobility. According to Vahan Data, as of YTD FY’23 (06-Mar-23), electric three-wheeler sales have reached 3.53 lakh units, indicating a growing demand for clean mobility solutions.
