AMU Leasing, 3ev Industries, and 3eco Systems have announced a new collaboration to introduce a new initiative to deploy over 600 converted ICE-to-EV 3-Wheel L-5N cargo vehicles in India within nine months.
As part of the partnership, AMU Leasing will launch India’s first commercially proven ICE-to-EV converted 3-wheel L-5N, e30x, building on its existing partnership with 3ev. It will support 3eco’s plans to expand its operations in Mumbai with leading enterprise customers, including Amazon, Flipkart, DHL, Big Basket, Decathlon, and Porter.
The companies expect the collaboration to accelerate EV penetration in hyper-local transportation services, building on the existing fleet of 1,000+ newly built EVs at 3eco. The 600 EVs under this partnership are already committed by 3eco for turnkey last-mile services to leading enterprise end-customers under multi-year contracts, with all these EVs planned for sale and RTO registration within nine months.
As part of the collaboration, AMU Leasing, the leading and only woman-led technology-driven NBFC business exclusively serving the EV ecosystem, will facilitate retro-fitment financing up to 80%. AMU Leasing plans to capture a 20% market share in retrofitment adoption nationwide.
Nehal Gupta, Director, AMU Leasing, said, “As a technology-driven NBFC in the BFSI industry, AMU Leasing understands the importance of supporting innovative solutions that can propel sustainable revenue generation. By financing the retrofitment of ICE to EV conversion kits, we are not only enhancing the performance of vehicles but also contributing to India's goal of becoming a Net Zero Carbon Emissions economy by 2070.”