Tailored, collateral-free 3W EV Loans

Monil Shah, Director & CBO of Manba Finance discuss the company's shift to electric 3-wheeler loans:

Ravi Lalwani: How has your company's 3-wheeler Ioan business evolved over the last 3 years?

Monil Shah: Manba Finance has experienced significant growth in its 3-wheeler loan business over the past few years, particularly due to the surge in demand for electric vehicles (EVs). As the market for electric 3-wheelers rapidly expands - driven by the increasing preference for EVs over traditional internal combustion engine (ICE) vehicles - Manba Finance has positioned itself as a key player in this transition.

The company has embraced this shift by offering tailored, collateral-free loans to customers seeking to purchase electric rickshaws and cargo vehicles. With the Indian government's supportive policies promoting EV adoption and a growing environmental awareness among consumers, the demand for electric 3-wheelers has skyrocketed. Manba Finance has capitalized on this trend by providing accessible and affordable financing options, making the transition to electric vehicles more feasible for small operators and drivers.

The evolving landscape of battery technology, which has become more cost-effective and efficient, further supports the increasing adoption of EV 3-wheelers. Additionally, major 3-wheeler manufacturers have entered the EV market, contributing to the rapid growth and evolution of the sector. Manba Finance continues to focus on meeting this growing demand.