Three Wheels United (TWU), an EV-finance firm, has partnered with Piaggio Vehicles to purchase more than 3,300 electric three-wheelers. These will be deployed in the coming 18 months in the country.
TWU will offer easy financing options for both individuals and fleet operators switching to electric vehicles.
The company stated that drivers will receive affordable loans for up to 100% of the vehicle’s cost without collateral. TWU’s driver application, which gives drivers details about charging stations and parking options as well as vehicle maintenance, will provide constant support.
The fintech company will also offer a buyback option, which allows drivers to sell any polluting vehicles older than ten years and then purchase Piaggio’s Ape Electrik EVs with a down payment only of Rs 29,999.
Piaggio will, however, take care of all maintenance and service requirements through its dealer network.
Diego Graffi is Chairman and MD of Piaggio Vehicles. He stated, “Our recently launched PVs Ape E-City FX Max as well as Ape E-Xtra FX Max, have received overwhelming responses, especially from last-mile delivery partners. Three Wheels United’s MoU will strengthen our commitment to India’s EV infrastructure by bringing in reliable and competent partners.”
Cedrick Tandong is the CEO and co-founder of Three Wheels United. He stated that there are currently more than 13 lakh EVs in India. To achieve widespread adoption of EVs, there is much to do. To remove barriers to adoption, we need an ecosystem approach. The path to mass adoption of EVs can be made easier by collaboration between vehicle manufacturers, finance providers, and charging infrastructure providers.
He said, “We are happy to partner with PVPL. We believe that this partnership will further reinforce our commitment to reducing the environmental impact from the transportation sector of India.”