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Manappuram Finance signs MoU with Autolite to finance electrical vehicles

Autolite (AIL) is a manufacturer of electric vehicles (Two & Three Wheeler) lithium Ion battery packs & solar products

BS Reporter  |  Chennai 

Manappuram Finance
Manappuram Finance

Gold loan company Ltd has signed a Memorandum of Understanding (MoU) with (India) Ltd (AIL) for a consumer and dealer financing agreement for electric vehicles.

(AIL) is a manufacturer of electric vehicles (Two & Three Wheeler) lithium Ion battery packs & solar products. Limited will be offering financing solutions to Autopal Dealers and Consumers with products such as vehicle loans and inventory funding.

Under the MOU, will gradually involve their network of over 3000 branches across India to provide end to end financing solutions to Autopal branded consumers. AIL has over 75 dealers in various parts of the country.

Senthil Kumar, head of commercial vehicle, Manappuram Finance Limited said, “Our association is a new development in the industry, thereby, benefitting the consumer, electric manufacturers, financing and government in the long run. It is major step to build a sustainable ecosystem for electric vehicles in India.”

“This will surely boost our sales and accelerate revenues in rapidly multiplying numbers," said Adarsh Mahipal Gupta, director, (India) Limited, adding that this will empower its stakeholders and customers with financial products specifically tailored for them.

First Published: Tue, April 02 2019. 16:37 IST
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