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Manappuram Finance, on Tuesday, signed a memorandum of understanding (MoU) with Autolite India, which manufactures electric two- and three-wheelers, to finance dealers and customers of Autolite’s Autopal electric-vehicle brand.
Under this MoU, Manappuram Finance will provide loans to customers and inventory funding for dealerships. At present, Autolite has more than 75 dealerships that will benefit from this partnership, a statement said.
“This will surely boost our sales and accelerate revenues in rapidly multiplying numbers. This partnership will empower our stakeholders and customers with financial products specifically tailored for them,” said Adarsh Mahipal Gupta, Director, Autolite India.
“It is a major step to build a sustainable ecosystem for electric vehicles in India. We are very happy to partner with Autolite India, and will work together on joint development areas in keeping pace with industry requirements and leveraging mutual strengths,” said Senthil Kumar, Head of Commercial Vehicle, Manappuram Finance.
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