Convergence Energy Services Limited (CESL), a well-acclaimed and established subsidiary of state-owned Energy Efficiency Services Limited, an energy solutions group has joined hands with Three Wheels United (TWU) by signing a Memorandum of Understanding (MoU)
Convergence Energy Services Limited (CESL), a well-acclaimed and established subsidiary of state-owned Energy Efficiency Services Limited, an energy solutions group has joined hands with Three Wheels United (TWU) by signing a Memorandum of Understanding (MoU). Under this partnership, TWU will procure 70,000 electric three-wheeled vehicles across India within the next five-year time period.
As part of this partnership between CESL and TWU, the brand Three Wheels United or TMU will procure 70,000 electric three-wheeled vehicles, that is E3Ws, in different phases which vary from 100 to 20,000 units. The entire attainment process will be completed by 2027 according to the MoU. Further, it has been stated that the two companies will work towards co-financing the electric vehicles under their partnership.
During the initial phase of the procurement process, Three Wheels United will attain E3Ws which are priced at Rs.3 lakhs for the Passenger variant and Rs.3.5 lakhs for the cargo vehicle. It has been also stated that the aforementioned vehicles will be deployed for service in Bangalore and Delhi.
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As part of the agreement, Convergence Energy Services Limited will be focusing on enhancing the electrification process of three wheeler fleet to increase the demand for Electromobility both in the passenger and cargo categories across India by improving the reach.
Furthermore, the electric vehicles will receive subsidies under the FAME II scheme which is taken care of and administered by the Ministry of Heavy Industries. Interestingly, this comes in thanks to attaining the 100,000-vehicle tender managed by CESL which also increased the demand for electric vehicles in India as a response to the notification in the Gazette of India.
Mahua Acharya, MD, and CEO, of Convergence Energy Services Limited (CESL), states, “We are honoured to have the benefit of TWU’s depth and credibility and excited at the prospect of building a fruitful relationship in pursuit of larger goals of sustainable e-mobility and livelihood creation.”
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Cedrick Tandong, Co-founder & CEO, of Three Wheels United (TWU), mentions, “We are happy to be partnering with an organisation like CESL that is focused on solutions that deliver clean, affordable, and reliable energy. Our overarching goal is to improve livelihoods for drivers, reduce the climate impact of the transportation sector and accelerate efforts toward sustainable last-mile transportation. This partnership further strengthens our commitment towards eradicating barriers to mass adoption of EVs in India.”
Finally, he also mentioned that under the partnership between the two companies, electro-mobility will see an enhancement and surge in number in the country.
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