Autolite (India) Limited, a leading manufacturer of Electric Vehicles has tied up with Manappuram Finance Limited for a consumer & dealer financing arrangement.
This tie-up is aimed at benefiting all the 75-plus dealers of AIL spread across India to facilitate their sales to the consumers of Autopal Electric Vehicles. Under this arrangement, the Manappuram will gradually involve their wide spread network of 3000+ branches across India to provide end to end financing solutions to Autopal branded Electric Wheeler consumers.
According to the memorandum of understanding (MoU) inked between both the companies, Manappuram Finance Limited will offer financing solutions to Autopal Electric Vehicle Dealers & Consumers with products such as Vehicle Loans & Inventory funding.
Manappuram Finance limited has consumer financing arrangements in place with only leading brands of Electric Vehicle segment.
"Manappuram is very selective in choosing the Manufacturing Partners in terms of strength, track record and business outlook of the company forming partnership" Dhiraj Agrawal, CEO & Sr. Vice President, TW Finance, Manappuram Finance said.
Manappuram’s competitive financing model and wide reach across India will surely nurture a value addition to Autolite’s Dealers & Customers. This will surely boost our sales and accelerate revenues in rapidly multiplying numbers. We will also look into further strengthening our relationship with Manappuram in days to come," Adarsh Mahipal Gupta, Director, Autolite (India) Limited explained.
"This partnership will empower our stakeholders and customers with financial products specifically tailored for them to facilitate their smooth entry into the world of Autopal Electric Vehicle" he added.