Greaves Electric Mobility Partners with Muthoot Capital for EV Financing
Greaves Electric Mobility partners with Muthoot Capital Services to offer retail financing solutions for Ampere electric two-wheelers. The collaboration aims to make EV ownership more accessible and affordable across India, accelerating adoption and strengthening GEML's market presence through 500+ pan-India touchpoints.
The partnership with a prominent NBFC is a significant step towards increasing EV adoption and market penetration for Ampere's products, potentially leading to increased sales and revenue.
The partnership is expected to boost sales and adoption of electric vehicles by making them more affordable and accessible, which is positive for the company's subsidiary.
Greaves Electric Mobility Limited (GEML), a subsidiary of Greaves Cotton Limited, has announced a strategic partnership with Muthoot Capital Services Ltd., a retail NBFC. This collaboration aims to make ownership of Ampere electric two-wheelers more accessible and affordable across India, thereby accelerating EV adoption.
The partnership will offer customers convenient, flexible, and customer-centric retail financing solutions for Ampere's complete range of electric two-wheelers. It is designed to bridge affordability barriers by providing financing options tailored to diverse income profiles and mobility needs. Flexible repayment options are expected to make ownership more convenient, affordable, and financially sustainable for a wide range of customers, including salaried professionals, self-employed individuals, gig workers, and small business owners.
Manoj M. P., Chief Business Officer at Greaves Electric Mobility, stated that the partnership with Muthoot Capital Services Ltd. will offer seamless and customer-centric ownership solutions, removing financial barriers and empowering customers with greater choice and convenience. Mr. Mathews Markose, CEO of Muthoot Capital Services Ltd., added that the collaboration, combining Ampere's growing electric two-wheeler portfolio with Muthoot Capital's deep retail financing network and technology-enabled lending capabilities, aims to democratize access to electric mobility and support India's sustainable mobility journey.
With over 18 years of experience in designing and manufacturing electric vehicles, Ampere has a strong presence in the Indian electric two-wheeler market. GEML continues to expand its product portfolio, dealer network, and strategic partnerships. Backed by the 165-year legacy of Greaves Cotton Limited, GEML is committed to building an affordable and sustainable electric mobility ecosystem.
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Greaves Cotton Limited filed this with the NSE as a statutory disclosure, categorised under strategic partnerships. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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