FCC

CESL inks pact for 70,000 E3Ws

2022-07-21

An agreement to purchase 70,000 electric three-wheelers (E3Ws) to be deployed in phases across India over the course of five years was signed by Convergence Energy Services Limited (CESL), a wholly-owned subsidiary of Energy Efficiency Services Limited (EESL), and Three Wheels United (TWU), a global fintech company that specialises in EV financing.

The initial purchase of these electric three-wheelers by Three Wheels United would be for deployment in Bengaluru and Delhi. They are typically priced at INR 3 lakh and INR 3.5 lakh for passenger and cargo categories, respectively. TWU will also expand to other cities as demand increases there.

In accordance with this partnership, CESL will consolidate high quality demand for electric three-wheelers throughout several Indian cities by igniting the market through proactive outreach and electric mobility awareness raising. The demand that CESL has already seen from many cities around the nation will be added to by this.