Etrio Launches Leasing Model For its Touro Series of Electric Three-Wheelers, EMI Starting at Rs 6,300

Etrio has launched a leasing model called ‘E-Lease’ for its newly launched completely made-in-India cargo three-wheeler EV “Touro" Mini with a monthly rental starting from Rs. 6300 /- for a tenure of three years. The three-wheeler segment has been the front-runner in India’s all-electric mobility vision by contributing over 90% of overall Electric Vehicle Sales. However, the majority of the same has been led by the unorganized e-rickshaw market, with lead-acid batteries, poor build quality, numerous breakdowns, and lack of stability of the product.

Commenting on the announcement, Deepak MV, Co-founder & CEO, Etrio said, “Touro Mini has been a quite successful launch for us and we are overwhelmed by the responses received for the product. We have worked on numerous pilots with key clients ranging from Amplus EV, Zypp Electric, Lithion Power and others. The positive feedback on the product has reinforced our belief in significant value addition to the last-mile delivery market. Since the launch, we have been continuously getting numerous inquiries for easy financing of our vehicles. E-Lease will provide a hassle-free ownership experience for key enterprise consumers by being asset-light in their books and propel Touro Mini to become an undisputed market leader. We are also ready with the Touro Mini Passenger variant which will be introduced through our Dealer channel."

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The company has now come up with a first-of-its-kind leasing option whereby interested partners can remain asset-light without having any concerns about maintenance. With a lock-in period of 18 months and by just paying Rs. 20,000 as the first-month installment the vehicle will be made available to the customer for on-road use. The subsequent monthly EMI’s start from Rs. 6300- for the remaining tenure of 35 Months. The E-Lease plan also gives the B2B customers the option to include the 80 cu.ft. load body, insurance, telematics, and registration charges into the E-Lease plan. Etrio plans to have this leasing option rolled to select a few clients based on their financial viability. The minimum order to avail the leasing option is 25 vehicles.

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