India’s electric three-wheeler market has surged to become the largest globally, with over 580,000 units sold in 2023. (Photo: Logisticsinsider)
These financing solutions offer tailored options and competitive rates, making electric three-wheelers an affordable and appealing choice for a diverse range of buyers.
India has become the largest market for electric three-wheelers, with over 580,000 sales in 2023, according to a report by the International Energy Agency.
This growth highlights the rapid expansion of the electric mobility sector, driven by government incentives and rising awareness. However, the high upfront cost of EVs remains a challenge.
On this World EV Day, here are some of the most affordable EV financing options for electric three-wheelers, offering competitive interest rates, flexible repayment schedules, and low payment requirements to ease your purchase decision.
Vidyut
Vidyut is a Bengaluru based EV full-stack startup that caters to the different needs of ownership of the vehicle. By providing flexible financing, insurance, maintenance, and resale services, Vidyut makes EV ownership more accessible, convenient, and worry-free. Its innovative pay-as-you-go battery subscription model reduces upfront costs by 40 percent, allowing customers to purchase vehicles without batteries and pay just Rs 1.7/km for battery usage.
Vidyut is the best financing option with its low down payment, hassle-free servicing, and assured buyback value, plus doorstep maintenance and backup vehicles for long repairs. Partnering with trusted brands like Mahindra, Tata Motors, Piaggio, Euler Motors, and many others Vidyut is present in 30 + cities simplifying vehicle ownership with tailored end-to-end solutions.
ALT Mobility
ALT Mobility is an EV leasing platform specialising in fleet management across seven cities. The Delhi-based startup offers easy financing for EV-as-a-service and last-mile delivery, with zero upfront costs. By paying a small security deposit and monthly lease, you can save up to 20 percent on monthly expenses. Partnered with 8+ OEMs like Piaggio and Euler Motors, ALT Mobility also provides a Fleet OS app for real-time vehicle and fleet monitoring.
Ecofy
Ecofy, India’s green-only NBFC, supports sustainable initiatives by offering affordable, hassle-free EV loans with minimal documentation and competitive interest rates. Financing up to 90 percent of the vehicle’s on-road price at 1/6th the cost per km compared to diesel, Ecofy is becoming a key player in EV financing. Partnered with brands like Ather, Mahindra, and Ola Electric, Ecofy provides financial assistance for electric two- and three-wheelers in both individual and corporate segments.
Perpetuity capital
Perpetuity Capital is a fintech platform offering flexible EV loans between Rs 50k and Rs 10 lakhs, connecting customers with RBI-regulated NBFCs and banks. Ideal for both individuals and corporates financing electric fleets, the company provides affordable credit with interest rates from 9.5 percent to 14 percent flat. Perpetuity Capital also offers fleet management tools for efficient vehicle tracking and management, all accessible from the comfort of your home.
Turno
Turno is a EV platform that helps operators of commercial vehicles to switch to EVs by providing a wide selection of vehicles from partner OEMs, affordable financing, and battery value guarantees to ensure the highest return on value for EV owners.
It operates on 70 rupees per day with zero maintenance charges. These financing options offer tailored solutions and competitive rates, making electric three-wheelers affordable and accessible for a wide range of buyers.
