Cedrick Tandong Three Wheels United and Saurav Kumar Euler Motors
Three Wheels United (TWU), a Bengaluru-based tech-enabled financier of sunshine electrical autos, has partnered with Electrical Car maker Euler Motors to speed up the adoption of electrical three-wheelers in India and promote sustainable mobility. As part of the partnership, TWU and Euler Motors will deploy over 1000 EV 3-wheelers throughout Delhi NCR, Bengaluru, Chennai, and Hyderabad by the tip of the monetary 12 months 2023.
One of many key impediments for large-scale penetration of EV three-wheelers is the shortage of obtainable financing for drivers to simply change to a much less polluting car. Though the long-term advantages of electrical auto-rickshaws, akin to decrease complete value of possession and better profitability in comparison with fuel-operated ones, are enticing, their upfront value is increased. Most drivers are unable to make the shift attributable to a scarcity of financing choices which might be appropriate for them. Three Wheels United was based with an purpose to take away these boundaries within the adoption of electrical autos by offering loans masking upto 100% of the asset value.
Three Wheels United and Euler Motors will collectively work in direction of selling the adoption of electrical cargo three-wheeler ‘Euler HiLoad EV’. With a payload capability of 688 kg, Euler HiLoad is India’s strongest three-wheeler cargo. Boasting the best payload capability throughout the 3W cargo phase in India (together with ICE), it additionally has a strong mixture of highest liquid cooled battery pack (12.4 kWh) with a licensed vary (151 KM). Designed uniquely for India, from India, HiLoad EV is suited to ship highest efficiency and longer life within the unpredictable Indian highway and climate circumstances.
TWU will present the required financing options for cargo car drivers to seamlessly change to EV three-wheelers, and Euler Motors will help them with entry to charging infrastructure, upkeep, and repair of the autos, making certain minimal downtime for operations. By way of this partnership, TWU and Euler Motors purpose to create ‘first technology EV driver entrepreneurs’ by serving to them transition from renting to proudly owning their very own autos.
“Entry to straightforward financing is a vital market enabler for India to make a large-scale EV transition. Euler Motors and Three Wheels United, each, are dedicated in direction of fixing these EV ecosystem points from the bottom up. Three Wheels United is an professional financier within the electrical CV area, and their confirmed success with their tailor made and versatile EV financing options is already elevating the EV phase. We’re excited to accomplice with Three Wheels United and execute our widespread imaginative and prescient of zero emission logistics, and sustainable enterprise operations. This partnership will assist us drive a sooner deployment of our buyer order e-book of 3500 HiLoads with the required financing options. Euler Motors will proceed to prioritize partnering with different gamers within the ecosystem who’re accelerating adoption of electrical business EVs in India.
At a person stage it additionally unlocks entrepreneurial alternatives, to empower drivers, present them the required monetary help and reap regular returns from EV operations”, stated Saurav Kumar, Founder and CEO, Euler Motors
Commenting on the partnership, Cedrick Tandong, CEO and Co-Founder, Three Wheels United, stated “Euler Motors and Three Wheels United have a shared imaginative and prescient of decreasing the local weather affect of the transportation sector by eradicating boundaries to mass adoption of EVs in India. I’m excited to accomplice with a model that’s identified for creating progressive and superior alternate options to conventional last-mile logistics. With their deep give attention to person expertise and merchandise tailor-made to Indian circumstances, Euler Motors has emerged as one of many main gamers within the EV three-wheeler class. We are going to proceed to accomplice with giant electrical car producers to speed up our efforts in direction of selling sustainable last-mile connectivity. By way of our assist, drivers can now simply shift to electrical three-wheelers and positively affect the setting”
Three Wheels United has over 50,000 drivers on its platform, providing them numerous services. The corporate has financed over 4000 auto-rickshaws ensuing within the discount of 1,72,000+ tonnes of CO2 emissions, and the technology of an additional $71M in revenue for the drivers.