Lohia Auto Industries, the auto division of the Lohia Group, today said it has extended its agreement with IndusInd Bank for financing electric three-wheelers in the e-rickshaw category.
The bank already provides finance facility for diesel vehicles of the automaker.
Through this partnership, IndusInd Bank will offer retail vehicle finance to customers of Lohia Auto for all Lohia three-wheeler electronic and diesel models, the company said in a statement.
The loan facility will be available in most parts of the country, including Madhya Pradesh, Jharkhand, Punjab, Rajasthan, Maharashtra, Goa and Gujarat, among others.
Lohia Auto Industries MD and CEO Ayush Lohia said: "A huge segment of customers will benefit from this alliance. This partnership will also help both Lohia Auto and IndusInd Bank in increasing the number of customers."
The MoU between IndusInd Bank and Lohia Auto Industries for diesel vehicles was signed in May last year.
Since May 2016, IndusInd Bank has financed close to 7.10 lakh three-wheeler vehicles as part of the association, the statement said.
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