Euler Motors has announced its partnership with Shriram Transport Finance Company (STFC) to drive retail financing of the Euler HiLoad EV.
According to a press release from Euler Motors, the partnership will aim at a pan-India deployment of its HiLoad EVs with lower interest rates and high loan-to-value for customers in retail.
In its goal to deploy over 20,000 EVs in the next two years, Euler will use STFC’s financing and segment expertise in the transportation sector and make commercial EVs mainstream on Indian roads.
Saurav Kumar, Founder and CEO, Euler Motors, said STFC’s expertise in asset management and customer know-how will help Euler deploy EVs at scale across its target markets.
P. Sridharan Joint MD, STFC added that the partnership with Euler is part of its overall strategy to provide finance to the entire e-commerce logistics supply chain ecosystem. Umesh Revankar, VC & MD, said India’s logistics industry is embracing EV wholeheartedly and adopting it at a faster rate than expected.
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