Saera Electric Auto Private Limited (SEAPL), one of the leading players in the electric vehicle industry, has signed a vehicle financing contract with a non-banking financial company (NBFC), AMU Leasing Pvt. Ltd. Under the agreement, customers planning to buy electric vehicles from SEAPL can avail easy financing options from ALPL.
“Our latest collaboration with AMU Leasing has enabled us to take another step towards establishing our goal to accelerate the penetration of clean mobility on Indian roads. ALPL has long established its name in the financial sector with a wide range of financing facilities in several states such as Delhi, Haryana, and Uttar Pradesh,” Nitin Kapoor, Managing Director of Saera Electric Auto, said.
Saera Electric Auto is a subsidiary of the Satra Group of Companies, which 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-rickshaws and e-carts. The company is also the manufacturer of Yogo, the 2W brand.
ALPL is a Delhi-based, RBI-licensed, AI- and tech-enabled NBFC incorporated on September 24, 1993. This is the first AI- and technology-driven NBFC led by women that is solely focused on the EV ecosystem. ALPL serves corporations, fleet operators, third-party logistics operators, FMCGs, OEMs, and many more for commercial, transportation, and supply purposes. The company provides loans for electric three- and four-wheelers against asset hypothecation to eligible organizations.
“ALPL has been part of the banking, financial services, and insurance (BFSI) industry for the last two decades. Our goal is to align ourselves with India’s emerging initiatives for self-employment and micro entrepreneurship for citizens across Tier 2 and Tier 3 cities. By supporting the alternative, fuel-based transportation sector, we aim to propel revenue generation for self-employed livelihoods and sustain that improvement. We will be able to provide hassle-free financing of electric three-wheelers for SEAPL through its 400+ dealer network spread across the country,” said Nehal Gupta, Director of AMU Leasing Private Limited.
“Saera has established itself as a leading player in the domain with immense repute and expertise in the manufacturing of clean and green vehicles, and we are optimistic that together we will provide the most efficient financing services while prioritizing customer service and satisfaction across our products. AMU understands the new-age technology of electric vehicles and knows its customers well. AMU stands alongside our customers and extends our support in making an efficient ecosystem where leasing, financing, and purchasing are one seamless process,” he added..
Currently, Saera has three state-of-the-art plants. The first one is in Bhiwadi (Rajasthan), which has a production capacity of 24000 units. The second plant is in Bawal (Haryana), with a production capacity of 2 lakh units of electric two-wheelers and 36,000 units of three-wheelers per year. In Kosi (UP), a third plant with a capacity of 24000 units per year has also been established. All electric vehicles manufactured by SEAPL are designed and assembled using cutting-edge technology prevalent in the industry.
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