Cholamandalam bets big on e-three-wheelers; eyes tie-ups with manufacturers

The aggressive foray comes at a time when India's electric three-wheelers are expected to contribute 30% of new vehicle sales in the country by 2025, according to Icra

Cholamandalam Investment and Finance Company (CIFC), Murugappa group’s vehicle financier, is planning to aggressively enter the electric three-wheeler and commercial vehicle segment and is already in talks with manufacturers for tie-ups.

“We are starting in a small way and will keep moving up in electric vehicles. Our focus is on the three-wheeler segment of the electric-vehicles. We are more focussed on vehicle financing for commercial vehicles. So, we will look into electric commercial vehicles that are first coming to the market,” said Arulselvan D, executive vice president and chief financial officer of CIFC. Arulselvan said the company is already in talks