The Hindu Business Line

Manappuram Finance signs MoU with Autolite India


Manappuram Finance, on Tuesday, signed an MoU with Autolite India, which manufactur­es electric two- and threewheel­ers, to finance dealers and customers of Autolite’s Autopal electric-vehicle brand.

Under this MoU, Manappuram Finance will provide loans to customers and inventory funding for dealership­s. At present, Autolite has more than 75 dealership­s that will benefit from this partnershi­p, a statement said.

“This will surely boost our sales and accelerate revenues in rapidly multiplyin­g numbers. This partnershi­p will empower our stakeholde­rs and customers with financial products specifical­ly tailored for them,” said Adarsh Mahipal Gupta, Director, Autolite India.

“It is a major step to build a sustainabl­e ecosystem for electric vehicles in India. We are very happy to partner with Autolite India, and will work together on joint developmen­t areas in keeping pace with industry requiremen­ts and leveraging mutual strengths,” said Senthil Kumar, Head of Commercial Vehicle, Manappuram Finance.

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