Greaves Electric Mobility Partners with Shriram Finance to Boost EV Accessibility

On October 1st, 2024, Greaves Electric Mobility Private Limited (GEMPL), part of Greaves Cotton Limited and a key player in electric two- and three-wheelers, announced a partnership with Shriram Finance, a leading financial services company under the Shriram Group. 

This partnership aims to make Greaves Electric Mobility’s three-wheelers (Greaves 3Ws) more affordable by providing customised financing options, including low down payments and flexible EMI plans for customers.

With Shriram Finance’s wide network across India, the collaboration will help promote last-mile mobility in both the passenger and cargo segments. This aligns with Greaves Electric Mobility’s vision of “Har Gully Electric,” aiming to make their three-wheelers (Greaves 3Ws, Eltra City, and Eltra Cargo) more accessible nationwide. The agreement was signed by K Vijaya Kumar, Executive Director and CEO of Greaves Electric Mobility, alongside Chandrasekar R, Joint Managing Director of Shriram Finance, and Gopinath TA, Assistant Vice President of Shriram Finance.

Gopinath TA, Assistant Vice President of Shriram Finance, added, “This is a great collaboration where two purpose-led and legacy companies come together to make India a global EV hub and accelerate access to mobility for last-mile passenger and cargo movement across fuel forms.” This collaboration marks a significant milestone in Greaves Electric Mobility’s journey to democratise 3 wheeler transportation in India, making 3 wheeler mobility solutions more accessible and affordable for consumers across the country. 

About Greaves Electric Mobility Private Limited

Greaves Electric Mobility Private Limited (GEMPL), part of Greaves Cotton Limited, is a leading company in India’s electric vehicle (EV) industry. Backed by GCL’s EV ecosystem, GEMPL has been designing and producing electric vehicles for more than 16 years, with a strong presence in the electric two-wheeler and three-wheeler markets. 

About Greaves Cotton Limited

Greaves Cotton Limited (GCL) is a well-known engineering company with over 163 years of experience and strong brand trust. The company offers many products and operates in multiple locations, focusing on fuel-agnostic powertrain solutions, electric mobility, aftermarket services, and retail. GCL’s growth strategy is centred around meeting customer needs and promoting sustainability.

On October 01, 2024, the Greaves Cotton Limited share price opened at ₹175.00, touching the day’s high at ₹181.00, as of 02:38 PM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.