New Delhi: Saera Electric Auto Private Limited (SEAPL), a leading player in the electric vehicle industry, and a subsidiary of the Satra Group of companies, has signed a vehicle financing tie-up with Shriram Transport Finance Co Ltd (STFC) to provide easy financing options to its customers.
“Our latest collaboration with Shriram Transport Finance has enabled us to accelerate the penetration of clean mobility on the Indian roads. STFC has a wide range of financing facilities in more than 900 locations in India,” Nitin Kapoor, Managing Director, Saera Electric Auto, said.
The Satra Group of companies has a diversified business portfolio in domains like automobile spare parts, electric vehicles and agriculture equipment. The signature brand of SEAPL is Mayuri, popular for e-rickshaw and e-cart. It also manufactures YOGO, a 2W brand, the company said in a media release.
“We will be able to provide hassle-free financing of electric three-wheelers for SEAPL through its 400-plus dealer network locations which are spread across the country. We hope that together with SEAPL we will make significant contribution towards reducing the country’s carbon footprint,” a spokesperson of Shriram Transport Finance Company, said.
Saera has three state-of-the-art plants in Bhiwadi (Rajasthan), which has production capacity of 24000 units, in Bawal (Haryana) having a production capacity of 2 lakh units of electric two-wheelers and 36,000 units of three-wheelers in a year, and in Kosi (UP) having a production capacity of 24000 units annually, the release added.
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