Three Wheels United strengthens operations in Delhi; deploys 200 EV three-wheelers in its fleet
Three Wheels United (TWU), a global fintech company for EV financing has strengthened its operations in Delhi with the deployment of 200 EV three-wheelers in its fleet.
TWU leverages technology to provide the most comprehensive, affordable loans, and rent-to-own options to India’s micro entrepreneurs has so far financed over 4000 auto-rickshaws resulting them easily switch to EV two and three-wheelers.
Micro entrepreneurs through its platform can get a fair interest rate and loans covering up to 100% of the cost of the vehicle without any collateral. Unlike traditional banks that collect EMIs at the end of the month in a big chunk, the platform incentivises money collection on a daily/weekly basis in small amounts. In doing so, TWU is able to tap into the finances of the drivers when the auto-rickshaw drivers actually make money and in a way that it’s aligned with the lifestyle of the drivers.
Over the last several months, Three Wheels United has been actively working with auto-rickshaw drivers in Delhi to help them make an easy switch from conventional vehicles to EV three-wheelers.
Commenting on its operations in Delhi, Cedrick Tandong, CEO and Co-Founder, Three Wheels United, said, “ We have received an overwhelming adoption in Delhi and we hope to continue on a similar trajectory over the next couple of years”
Three Wheels United is currently present in 13 cities across India. In the next few months, the company will start pilots in the Middle East, Africa, and other emerging markets with a goal to improve driver livelihoods and reduce air pollution globally.
Leave a Reply