Manba Finance Launches EV Battery Financing for Electric Three-Wheelers
Manba Finance launches Battery Replacement Financing for electric three-wheelers. The product offers small-ticket, short-tenure loans for lithium-ion battery replacements, aimed at protecting owner-operators' livelihoods. Rollout begins with existing customers, expanding to the wider market later. This move strengthens Manba's position in the growing EV ecosystem.
The new product targets a specific segment (EV battery replacement for three-wheelers) and is a phased rollout, indicating a moderate but growing impact on the company's business.
The launch of a new product aimed at supporting customers and expanding into a growing market segment is a positive development for the company.
Manba Finance Limited has announced the launch of a new product offering dedicated loan financing for new lithium-ion batteries, including charger kits, for electric three-wheelers (e-rickshaws and e-carts). This initiative aims to support owner-operators by providing affordable, small-ticket, short-tenure loans for battery replacements, thus preventing disruption to their earnings.
The product is designed to finance batteries sourced from quality-certified OEMs with warranty support. The process will be technology-led, featuring digital onboarding and e-mandate based repayments. Initially, the product will be rolled out to Manba's existing electric three-wheeler customer base, with a broader market launch planned subsequently.
Mr. Manish Shah, Managing Director, stated that this product is a natural extension of their vehicle finance business, protecting customer livelihoods and deepening their presence in the EV ecosystem. The company views this as a significant opportunity given the rapid growth of the electric three-wheeler segment in India and the recurring need for battery replacements. The rollout will be phased across select locations, with expansion contingent on portfolio performance and market response.
Manba Finance Limited is an NBFC founded in 1996, offering various retail lending products and operating through a network of 130+ locations across six states. They manage assets over ₹1,700 crore and have recently expanded into South India.
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Manba Finance Limited filed this with the NSE as a statutory disclosure, categorised under product launches. 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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