SBI to sanction loans to Avera’s Retrosa buyers. A pure electric vehicles manufacturer and an energy retailer startup, AVERA has received a greater push with the State Bank of India (SBI) coming forward to sanction loans to prospective buyers of Avera’s Retrosa, a high-speed electric scooter.

SBI to sanction loans to Avera’s Retrosa buyers

AVERA is launched by a team of young entrepreneurs in Andhra Pradesh. Its aim is to become a globally recognized producer of economical, greener and energy-efficient vehicles. The company not only builds these electric vehicles but also operates the entire electric vehicle supply chain, from batteries to the vehicles.

“The vehicle is small and very trendy and is surely will attract young customers. The ride is very comfortable and the vehicle is cost-effective,” said Arun Kumar Sahu, Deputy General Manager, SBI.

Mr. Sahu went around in the electric scooter to experience it and when he returned, he said that the ride was very comfortable.

“These scooters are eco-friendly and economical as the price factor has been kept within the reach of the common man,” said A. Venkata Ramana, CEO of the company.

Retrosa runs at a top speed of 90 kmph and on a single charge it can travel up to 140 km. The most essential component, battery is manufactured at the AVERA factory at Nunna, using lithium iron phosphate, the most advanced battery cells.

After its successful launch in its home state, AVERA plans to expand its footprint in Telangana and Karnataka also.

SBI officials Nagendra Kumar, K. Kiran, Vasantha Kumari, M. Murali Krishna, T. Srinivas, AVERA COO Chandini Chandana and others were also present at the event.

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