Three Wheels United (TWU), a Global tech-enhanced financier for light electric vehicles in India, announces the commencement of operations in Kerala. TWU flags off its services in Trivandrum, Kochi, Thrissur, Malappuram and Calicut and mentions that within the time span of the next 6 months, the company will focus on financing around 1000 plus two and three-wheelers in Kerala.
Three Wheels United is a brand that allows customers to make a switch from using conventional internal combustion-based vehicles to electric two and three-wheelers. The company was formed thanks to Cedrick Tandong, Kevin Wervenbos, and Apurv Mehra back in 2017. However, it soon became one of India’s fast-growing financial firms that worked its way to help eliminate financial barriers causing hindrances in the adoption of EVs in the country.
Cedrick Tandong, CEO and Co-Founder, of Three Wheels United, said, “The adoption of Electric Vehicles has seen a steady increase in Kerala and the demand for EVs has significantly increased over the years. We believe that access to affordable financing can further contribute to the mass adoption of EVs in the state.
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After an overwhelming response in Karnataka and Delhi NCR, we are excited to launch operations in a key strategic market like Kerala. We look forward to supporting micro-entrepreneurs to switch to cleaner and more economically viable last-mile alternatives”
Kerala as a state had set its ambitions back in 2019 to achieve the target of introducing 1 million electric vehicles by 2022. With several initiatives being established by the state of Kerala, it has managed to help enhance EV adoption. During the 2022 financial budget, the Government also announced the implementation of incentives of Rs.25,000 – Rs. 30,000 for all-electric vehicles. Not only this, but the Government of Kerala also tried to implement incentives in enhancing the state’s charging infrastructure development.
As for the brand, Three Wheels United has developed a platform to finance light electric vehicles. The company leans towards technology to provide the most comprehensive and affordable loans, and rent-to-own options to India’s micro-entrepreneurs to help them easily make the switch to electric two and three-wheelers.
