Greaves Electric Mobility Private Limited (GEMPL),the e-mobility business of Greaves Cotton Limited, has entered into an agreement with Bike Bazaar Finance, an RBI-registered nonbanking finance company that specialises in retail financing of Pre-Owned & New-vehicles, the company announced today through an exchange filing.
Under the agreement, Bike Bazaar Finance will finance 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.
The collaboration will benefit both GEMPL and Bike Bazaar Finance, as well as customers, and is a significant advancement in India's burgeoning e-mobility sector.
"We are thrilled to announce that we have partnered with Bike Bazaar Finance to further accelerate the adoption of the L3 electric three-wheeler sector and move towards a more sustainable and emission-free future," said Sanjay Behl, CEO & Executive Director Greaves Electric Mobility Private Ltd.
"Greaves Electric Mobility's initiative towards promoting clean energy through electric vehicles is something that Bike Bazaar takes great pride and privilege in partnering with. 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," said Karunakaran V, Jt. MD & Co-Founder, Bike Bazaar Finance.