Shriram Transport Finance Company Limited (STFC), a subsidiary of the Shriram Group, partners with Euler Motors (Euler) to finance electric 3-wheeler freight trucks for last mile logistics solutions.
The collaboration is in accordance with Shriram’s 2022 goal of creating a green and sustainable future. Shriram Transport Finance has noticed a continuous growth in demand for E-CVs amid growing need for green energy, and this is the company’s first Electric Commercial Vehicle tie-up, with more to come.
Euler Motors makes electric three-wheelers and also deploys them through its wide partner network, which includes e-commerce, third-party logistics, and individual driver operators in last-mile delivery across a variety of use cases. The company is working with several leading e-commerce players such as BigBasket, EcomExpress, Udaan, Zomato etc. Euler Motors facilitates business to customers who purchase EVs, through them.
Shriram Transport Finance has seen an increase in the demand for e-commerce and logistics-related vehicles, as well as the necessity for their financing. The current National Logistics Policy of the government, as well as numerous state incentives, are propelling E-CVs.
The firm has been funding first- and mid-mile cars, and it has lately formed partnerships with online freight markets such as FR8, UCI Logistics, TransBadi, and TruckNetic, as well as logistics solution providers such as Glasswing and Imprint Logistics.
With this collaboration with Euler, the firm will now be present across the supply chain financing of e-commerce cars. The company plans to gradually expand into the supply chain finance market, hoping to benefit on the growing need for end-to-end integrated supply chain financing.
This is a PR Agency Feed; fake checked and edited by Clean-Future Team