Saera Electric Auto Enters Into Vehicle-Financing Tie-Up With AMU Leasing

A file photo of Saera Electric Auto enters into vehicle-financing tie-up with AMU Leasing Pvt. Ltd.

To further enhance customer experience, one of the leading players in the electric vehicle industry, Saera Electric Auto Private Limited (SEAPL) has signed a vehicle financing contract with the non-banking financial company (NBFC), AMU Leasing Pvt. Ltd. Under the agreement, customers of SEAPL planning to buy electric vehicles can avail of easy financing options from ALPL.

“Our latest collaboration with one of the most trusted AI and tech-enabled NBFCs, AMU Leasing Pvt. Ltd., has enabled us to take another step towards establishing our goal to accelerate the penetration of clean mobility on the Indian roads. ALPL has long established its name in the financial sector with a wide range of financing facilities in several states such as Delhi, Haryana, Uttar Pradesh,” stated Managing Director of Saera Electric Auto Nitin Kapoor.

Saera Electric Auto is the subsidiary of the reputed Satra Group of Companies, which has a diversified business portfolio in domains like automobile spare parts, electric vehicles, and agriculture equipment. The signature brand of SEAPL is Mayuri, popular for e-rickshaw and e-cart. The company is also the manufacturer of YOGO, the renowned 2W brand.

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AMU Leasing Private Limited (ALPL) is a Delhi-based, RBI-licensed, AI and tech-enabled NBFC incorporated on 24 September 1993. This is the first women-led AI and tech-driven NBFC exclusively serving the EV ecosystem. ALPL serves corporates, fleet operators, third-party logistics operators, FMCGs, and OEMs, and many more for commercial, transportation, and supply purposes. The company provides loans for electric three and four-wheelers against asset hypothecation to eligible organizations.

 “ALPL has been part of the Banking, financial services, and insurance (BFSI) industry for the last two decades. Our goal is to align ourselves with India’s emerging initiatives for self-employment and micro-entrepreneurship for citizens across Tier 2 and 3 cities. By supporting the alternate, fuel-based transportation sector, we aim to propel the revenue generation for self-employed livelihoods and sustain that improvement. We will be able to provide hassle-free financing of electric three-wheelers for SEAPL through its 400+ dealer network spread across the country,” said Nehal Gupta, Director of AMU Leasing Private Limited.

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“Saera has established itself as a leading player in the domain with immense repute and expertise in manufacturing of clean and green vehicles and we are optimistic that together we will provide the most efficient financing services while prioritizing customer service and satisfaction across our products. AMU understands the new-age technology of electric vehicles and knows the customers well. AMU stands alongside our customers and extends our support in making an efficient ecosystem where leasing, financing, and purchasing is one seamless process,” added Ms. Gupta.

Currently, Saera has three state-of-the-art plants. The first one is in Bhiwadi (Rajasthan), which has a production capacity of 24000 units. The second plant is in Bawal (Haryana) having a production capacity of 2 lakh units of electric two-wheelers and 36,000 units of three-wheelers in a year. The third plant in Kosi (UP) having a production capacity of 24000 Units annually has also been set up. All electric vehicles manufactured by SEAPL are designed and assembled using cutting-edge technology prevalent in the industry.

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