Saera Electric Auto signs vehicle financing agreement with STFC

Strong points :

  • Delhi electric vehicle manufacturing company Saera Electric Auto Pvt Ltd (SEAPL) has partnered with one of the biggest names in commercial vehicle finance in India, Shriram Transport Finance Co Ltd (STFC) to provide financing of vehicles.
  • Under the agreement, SEAPL customers looking to purchase electric vehicles can take advantage of easy financing alternatives from STFC.

Delhi electric vehicle manufacturing company Saera Electric Auto Pvt Ltd (SEAPL) has partnered with one of the biggest names in commercial vehicle finance in India, Shriram Transport Finance Co Ltd (STFC) to provide financing of vehicles. Under the agreement, SEAPL customers looking to purchase electric vehicles can take advantage of easy financing alternatives from STFC.

The well-known Satra group of companies, which has a diversified business portfolio in sectors such as automotive parts, electric vehicles and agricultural equipment, is the parent company of Saera Electric Auto. Mayuri, a well-known brand for e-rickshaws and e-carts, is SEAPL’s flagship brand. The famous 2W YOGO brand is also produced by the company.

“Our most recent partnership with Shriram Transport Finance, one of the most reputable lenders, has allowed us to move forward in our goal of accelerating the adoption of clean mobility on Indian roads. STFC has a long history in the financial industry and offers a wide range of finance options at over 900 locations across India,” said Nitin Kapoor, Managing Director of Saera Electric Auto.

“We will be able to provide hassle-free electric three-wheeler financing for SEAPL through its network of over 400 dealerships nationwide,” said the spokesperson for Shriram Transport Finance Company.

Saera now operates three state-of-the-art factories. The first, with a manufacturing capacity of 24,000 units, is in Bhiwadi, Rajasthan. The second factory located in Bawal, Haryana, has an annual production capacity of 36,000 three-wheelers and 2 lakh electric two-wheelers. Additionally, a third facility has been established in Kosi, Uttar Pradesh, with an annual production capacity of 24,000 units. All electric vehicles produced by SEAPL are created and assembled using state-of-the-art technology.

Recently, Saera Electric Auto Private Limited (SEAPL) has signed a contract manufacturing agreement with iconic two-wheeler manufacturer Lohia Machines Limited (LML). LML is returning to the Indian market with the production of electric vehicles, which will be manufactured at Saera’s electric plant in Bawal, Haryana.

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