Snap-E Cabs has announced collaborations with Mufin Green Finance, Mahindra Finance, ICICI Bank, and HDFC Bank to strengthen its fleet of eco-friendly cabs in Kolkata.
This expansion is in line with its expansion plans for FY 2024, which include entry into Bhubaneswar and Raipur as well as doubling its fleet count.
Mufin Green Finance will provide a fleet of 100 Tata Tigors on lease for five years. These vehicles will be used as cabs in Kolkata and increase Snap E's fleet to 600. After the lease term comes to an end, Snap-E Cabs can buy back these vehicles from Mufin Green Finance.
Mahindra Finance, meanwhile, will lease out 50 Tigors for three years after which Snap-E Cab can exercise is option to buy them. ICICI and HDFC will provide another 50 Tigors.