The Selco Energy Access Fund, a subsidiary of SELCO India, has announced a strategic investment in eBik, a product powered by Accelero Vehicles India Private Limited. This investment is aimed at enhancing motorized mobility across India, particularly for individuals earning less than ₹15,000 per month.
The high cost of traditional internal combustion (IC) vehicles continues to be a barrier for many, leading to a reliance on manual transportation. With the growing impact of climate change, the need for affordable motorized mobility has become increasingly critical.
Accelero Vehicles is committed to providing sustainable and cost-effective mobility solutions through its products, including the Roadster Electric Bicycle and E-Cart engines. These innovations are designed to improve the quality of life for users by offering accessible and environmentally friendly transportation options.
SELCO India emphasizes that energy access is a fundamental requirement for progress in various sectors, including health, education, livelihoods, and financial inclusion. The partnership with Accelero Vehicles aligns with SELCO’s mission to improve overall quality of life by ensuring access to essential resources.
Through the support of the Selco Energy Access Fund, the initiative aims to reach 1 million households in the coming years, providing them with affordable motorized mobility. This marks a significant step forward in making sustainable transportation accessible to all corners of the country.
The investment has received backing from prominent leaders in India’s impact sector, including Harish Hande, Manoj Kumar, Smita Rakesh, Srikanth Garimella, and Praveen Hunashikatti, whose guidance has been instrumental in scaling this initiative.
The Selco Energy Access Fund welcomes this opportunity to contribute to the vision of delivering sustainable and affordable mobility solutions across India.
