MLR Auto partners with Revfin Services to offer electric vehicle financing

MLR Auto, an associate company of Greaves Electric Mobility (GEMPL), has entered into an agreement with Revfin Services (Revfin), an advanced digital consumer lending platform that makes getting a loan convenient and accessible to all individuals. The fintech platform has its own NBFC to issue the loan amount using non-traditional data and the three key techniques - Biometrics, Psychometrics and Gamification, that focus on financing commercial electric vehicles for individual drivers & it is conveniently delivered digitally through an App.

With this, GEMPL aims to accelerate the adoption of electric three-wheelers by the bottom-of-pyramid customers, for whom savings offered by EVs are an important factor that impacts their livelihood. Electric 3-wheelers for passenger and cargo mobility have a big role to play in driving sustainable last-mile mobility across India. This partnership with an electric vehicle financing entity marks the first of its kind for the company's E3W portfolio and will initially take effect in North and East India, with plans to expand nationwide in the near future.

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