Saera Electric Auto in Vehicle Finance Partnership with Shriram Transport Finance, Auto News, ET Auto

The Satra group of companies has a diversified business portfolio in areas such as automotive parts, electric vehicles and agricultural equipment.

New Delhi: Saera Electric Auto Private Limited (SEAPL), a major player in electric vehicles industryand a subsidiary of Satra Group companies, signed an automobile financing agreement with Shriram Transport Funding Co Ltd (STFC) to provide easy financing options to its customers.

“Our latest collaboration with Shriram Transport Finance has allowed us to accelerate the penetration of clean mobility on Indian roads. STFC has a wide range of finance facilities at over 900 locations in India,” said Nitin Kapoor, Managing Director of Saera Electric Auto.

The Satra group of companies has a diversified business portfolio in areas such as automotive spare parts, electric vehicles and agricultural equipment. SEAPL’s signature brand is Mayuri, popular for e-rickshaw and e-cart. It also manufactures YOGO, a 2W brand, the company said in a press release.

“We will be able to provide hassle-free electric three-wheeler financing for SEAPL through its over 400 dealer network locations which are spread across the country. We hope that together with SEAPL, we will make a significant contribution to reducing the country’s carbon footprint,” said a spokesperson for Shriram Transport Finance Company.

Saera has three state-of-the-art factories in Bhiwadi (Rajasthan), which has a production capacity of 24,000 units, in Bawal (Haryana) having a production capacity of 2 lakh units of electric two-wheelers and 36,000 units of three-wheelers in one year, and in Kosi (UP) having a production capacity of 24,000 units per year, the press release adds.

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The Department of Transport, under which the Registration and Licensing Authority (RLA) falls, is currently working to write to the National Informatics Center (NIC) to restrict the registration number in the VAHAN portal according to the limit set in EV policy.

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