MLR Auto Limited Partners with Vidyuttech to Provide Flexible Financing for Electric Three-Wheelers

Strategic collaboration aims to simplify electric vehicle ownership and promote sustainable mobility in India

MLR Auto Limited, a subsidiary of Greaves Electric Mobility Private Limited (GEMPL), has announced a strategic partnership with Vidyuttech, a leading financing platform and lifecycle management service provider. This collaboration aims to provide flexible financing options for MLR’s electric three-wheelers in India.

With Vidyuttech’s expertise in financing and lifecycle management services, MLR’s customers will enjoy a simplified electric vehicle ownership experience. Vidyuttech offers a unique pay-per-km battery lease model and an attractive interest rate of approximately 10%, designed to facilitate the adoption of electric three-wheelers. These financing options make electric vehicles more affordable and sustainable for customers. Additionally, Vidyuttech’s commitment to providing over 90% on-road funding significantly reduces the burden of downpayment, making electric vehicle ownership more accessible than ever before.

Nirmal NR, Chief Executive Officer & Wholetime Director of MLR Auto Limited, expressed his delight about the partnership and highlighted its potential to enhance the adoption of electric vehicles in the L5 segment. He emphasized that the collaboration with Vidyuttech would provide MLR’s customers with accessible and hassle-free financing options, simplifying their transition to electric three-wheelers and contributing to a more sustainable and emission-free future.

Xitij Kothi, Co-Founder of Vidyuttech, expressed excitement about partnering with MLR Auto, emphasizing that their battery leasing and low-cost financing options are designed to make the transition to electric vehicles an easy decision for customers.

This partnership aligns perfectly with GEMPL’s vision of revolutionizing last-mile mobility in India through sustainable solutions. By leveraging Vidyuttech’s attractive interest rate and dedication to offering substantial funding, MLR’s customers will have greater financial flexibility and convenience in their electric vehicle purchases. This collaboration aims to accelerate the adoption of electric three-wheelers and drive India towards a more sustainable and environmentally friendly future.