A strategic partnership between Bestway Agencies Private Limited (BAPL), a fully owned subsidiary of Greaves Electric Mobility Private Limited, and Akasa Finance Limited, a prominent financier of e-rickshaws in India, has been announced.
This partnership represents a significant turning point for the electric three-wheeler market, enabling consumers all over India to adopt more cost-effective and environmentally friendly transportation options.
Through this alliance, Akasa Finance will provide customers with significant financing on the e-rickshaw’s ex-showroom price of 80% or more.
With the help of Akasa Finance’s specialized financing options, the expanding customer base of BAPL in the cities and towns of Uttar Pradesh, Bihar, Assam, and West Bengal will be able to select loan terms ranging from 18 to 21 months, ensuring a smooth and trouble-free ownership experience. This customer-focused strategy fits with BAPL’s mission to provide improved experiences and delight customers.
Commenting on the partnership, Sanjay Behl, CEO and Executive Director, Greaves Electric Mobility Private Limited, said, “Our shared vision of fostering last-mile electric mobility has paved the way for this collaboration and aims to provide financial solutions. We want to make e-rickshaws more accessible to a wider range of individuals.”
Mr. Rohit Mehta, Managing Director of Akasa Finance Ltd, remarked, “We are excited to join forces with Bestway Agencies Private Limited, a name synonymous with quality and innovation in the electric rickshaw industry. Our partnership is more than just finance and manufacturing coming together; it’s about creating a sustainable future and making green mobility a reality for countless individuals. By providing tailored financing solutions, we aim to empower entrepreneurs, drivers, and small businesses across the country.
A non-banking finance company is Akasa Finance Limited. It is one of the top non-banking finance companies in India, operating across 4 States. Among the loans offered by Akasa Finance Ltd. are loans for utility vehicles, unsecured business and personal loans, loans for two- and three-wheelers, and loans for e-rickshaws. In terms of electric vehicle (EV) technology,
Greaves Electric Mobility Private Limited (GEMPL), a division of Greaves Cotton Limited (GCL), is a market leader in India. GEMPL has been designing and producing electric vehicles for over 13 years and has developed a significant market share in the electric 2-wheeler and 3-wheeler segments with the help of GCL’s EV ecosystem.
