Roadcast, AMU Partner To Build GPS-Enabled EV Leasing

Roadcast, AMU Partner To Build GPS-Enabled EV Leasing

Roadcast, recently entered into a partnership with Accelerated Money for U (AMU) to implement Roadcast’s GPS technology in e-rickshaws. They collaborated to make EV leasing more accessible and risk-free. 

This partnership between Roadcast a SaaS-based logistics automation platform in India, and Accelerated Money for U (AMU), a non-banking financial company (NBFC), aims to finance electric vehicles (EVs). In this collaboration, AMU plans to implement Roadcast’s GPS technology in as many e-rickshaws as they can finance. This collaboration aligns with Roadcast and AMU’s goals of enhancing security, promoting EV technology, and supporting environmental sustainability. It can help to monitor and manage fleets, adapt to technological advancements, and contribute to the national IoT ecosystem. This strategic collaboration aims to also support EVs in Tier-2 and Tier-3 cities and tap into the markets in these regions, which have the potential for profitable EV financing.

Roadcast provides fleet management solutions with smart tools like GPS tracking and AMU which has been a constant accelerator in helping enhance the adoption of EVs. By GPS-enabling 3W e-rickshaws leased by AMU with Roadcast’s technology, AMU can help to predict and identify non-performing assets and riders who may default on payments. The analytics capabilities will also provide insights into the performance of original equipment manufacturers (OEMs). Thus, enabling AMU to further make informed decisions.

“In leasing agreements, timely fund recovery is crucial, and Roadcast’s technology provides predictive insights that support proactive risk management strategies. This partnership will ensure that potential issues are identified early, allowing for quicker interventions and more efficient fund recovery, ultimately improving financial operations and stability in the EV sector”, shares Rahul Mehra, co-founder at Roadcast.

“This collaboration will first and foremost help us identify vehicles at risk of default early on. This will allow us to intervene effectively and streamline our fund allocation process. The access provided by Roadcast will help us navigate the complexities of NBFC operations more efficiently. In addition to this, their IoT expertise for real-time vehicle tracking will help in enhancing security and reliability through efficient EV and UAV operations”, shares Nehal Gupta, Founder & MD, of AMU.