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By MT Bureau| Apr 16, 2021

Three Wheels United Enters the Cargo Segment Through A Partnership with Porter

Bengaluru based tech-enabled financier of light electric vehicles Three Wheels United (TWU) has entered the cargo segment through a partnership with leading intracity logistics company, Porter.

TWU will offer loans to help partner drivers of Porter switch from conventional cargo autos to EV cargo vehicles. Unlike traditional bank loans, TWU will provide loans up to 100 percent of the asset cost, reducing the initial down payment required to buy the EV.

The new partnership is in line with TWU's commitment to increasing EV adaptation in India and promoting sustainable mobility.

Commenting on the partnership, Pranav Goel, CEO and Co-Founder, Porter, said, "As a leading intracity logistics company, we are committed to building an eco-system that will bring down carbon footprint and operations cost for our driver-partners. As a first step, we have partnered with Three Wheels United, a technology-enabled financier of light electric vehicles, to provide easy financing options and help our driver-partners procure EV at lucrative terms. This partnership will provide a great opportunity for our partner drivers to shift to a more economical, highly profitable and less pollutive vehicle."

Cedrick Tandong, CEO and Co-Founder, Three Wheels United, said, "TWU's expansion into the cargo and logistics segment is another significant step towards our committed plan to remove barriers to increase the adoption of EVs in India. Our overarching goal is to reduce the climate impact of the transportation sector by helping drivers of three-wheelers seamlessly switch to cleaner mobility. We are happy to be partnering with Porter to help their driver-partners to shift to electric three-wheelers and positively impact the environment." (MT)

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