MLR Auto Limited, a subsidiary of Greaves Electric Mobility Private Limited, partners with Vidyuttech to provide flexible financing options for the electric three-wheeler portfolio
MLR Auto Limited, a subsidiary of Greaves Electric Mobility Private Limited (GEMPL), the e-mobility business of Greaves Cotton Limited, has announced its strategic partnership with Vidyuttech, a leading financing platform and lifecycle management service
provider. Under the partnership, Vidyuttech will provide flexible financing for MLR's electric three-wheelers.
With Vidyuttech's financing and lifecycle management services expertise, MLR's customers across India will benefit from simplified electric vehicle ownership. Vidyuttech's unique pay-perkm battery lease & attractive interest rate of approximately 10 % is designed to facilitate the adoption of Electric 3-wheelers, making them an affordable and sustainable choice for customers. Moreover, Vidyuttech's commitment to providing over 90 % on-road funding for potential customers significantly reduces the burden of downpayment, making electric vehicle ownership more accessible than ever before.
Commenting on the partnership, Nirmal NR, Chief Executive Officer & Wholetime Director, MLR Auto Limited, said,
"We are delighted to partner with Vidyuttech to enhance the adoption of electric vehicles in the L5 segment. This partnership will provide our 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."
"We are very excited to partner with MLR Auto. Our battery leasing and low-cost financing is designed to make EV transition a no-brainer for our customers," said Xitij Kothi, Co-Founder, Vidyuttech.
Vidyuttech's commitment to enabling customers to switch to electric vehicles aligns perfectly with GEMPL's vision of revolutionising 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 EV purchases.
Greaves Cotton Limited (GCL), also known as Greaves, is a diversified, multi-product, multi-fuel, and multi-location engineering company with a legacy of 165 years and strong brand trust. Originally renowned for its single-cylinder diesel engines, Greaves has transformed into a fuel-agnostic, end-to-end mobility solutions provider, driven by the purpose of "Empowering Lives”. The Company is enabling a sustainable transition to green mobility and aims to touch a billion lives by 2030. Greaves is building a digitally integrated ecosystem that connects consumers, business partners, and service providers across the entire mobility value chain.
Through its five independent business units—Greaves Engineering, Greaves Electric Mobility Ltd., Greaves Retail, Greaves Finance Ltd., and Greaves Technologies Ltd.—Greaves combines agility with strategic focus, delivering innovation and enhancing accessibility for consumers. With significant investments in technology and human capital, the Company is positioned to lead in India’s EV and sustainable mobility markets. The Company remains committed to sustainable growth and economic progress, making it a trusted partner in shaping the future of mobility in India.
Greaves Electric Mobility Limited (GEML), the electric mobility business of Greaves Cotton Limited (GCL), is one of the first companies in India to focus on the evolving market of electric vehicles (“EV”) and has been among the frontrunners at driving EV adoption in the country*. GEML has been designing and manufacturing electric vehicles for over 16 years and has established a strong presence in the electric 2-wheeler segment*. Furthermore, MLR Auto Limited and Bestway Agencies Private Limited, are subsidiaries of GEML. GEML is committed to creating an affordable and sustainable ecosystem and aims to provide clean and last-mile mobility solutions.
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