Delhi’s Roads Get New 200 EV Three Wheelers From Three Wheels United

Karnataka-based EV tech-enhanced financier, Three Wheels United (TWU) is strengthening its presence in the Delhi EV industry with the deployment of 200 EV three-wheelers in its fleet. To make the transition from conventional to EV three-wheelers as seamless as possible, Three Wheels United has been actively engaging with Delhi auto-rickshaw drivers over the past few months, the company has shared.

Three Wheels United (TWU) was established to address the major barriers preventing the widespread adoption of electric three-wheelers in India. A ground-breaking platform for financing light electric automobiles has been created by TWU, the company claims, adding that it uses technology to give India’s micro-entrepreneurs the most complete, cost-effective financing and rent-to-own choices so they can make the conversion to electric two- and three-wheelers or auto-rickshaws.

Cedrick Tandong, CEO and Co-Founder of Three Wheels United, spoke on the company’s operations in Delhi and stated, “Over the last several years, the Delhi Government has adopted several initiatives to encourage the adoption of EVs in the national capital. In Delhi between September and November 2021, EV sales made up 9% of all vehicle sales, which is about six times the national average. This demonstrates that Delhi’s EV policy is one of the most forward-thinking in the nation. Through our in-depth interactions with our partner drivers, we have witnessed this firsthand. In Delhi, we have experienced a resounding acceptance, and we anticipate continuing on a similar path in the next years.”

As per the Karnataka-based company, it uses patented behavior-informed technology to improve the accuracy of credit risk assessment and loan payback rates, opening up access to financial goods to groups of people who would otherwise not be eligible for auto finance. A fair interest rate and loans up to 100% of the cost of the car without any collateral are available to micro-businesses with its platform, the company claims. By doing so, TWU can access the drivers’ finances at a time when the auto-rickshaw drivers are earning a living and in a way that is consistent with their way of life.

Three Wheels United is currently operational in 13 Indian cities. To enhance driver livelihoods and lower air pollution worldwide, the company is looking to launch pilots in the Middle East, Africa, and other emerging countries in the coming months.

On its platform, Three Wheels United has more than 50,000 drivers and provides them with a range of goods and services. The corporation has funded more than 4000 auto-rickshaws.