TWU launched electric auto-rickshaw buyback scheme

To promote electric auto rickshaw adoption in India a Bengaluru based social enterprise Three Wheels United (TWU) launched an auto-rickshaw buyback scheme.

TWU chief executive Cedrick Tandong said in a statement that “A programme like this gives the right push towards the government’s green mobility initiatives. This scheme provides a great opportunity for auto rickshaw drivers to increase their income and positively impact the environment.”

TWU launched electric auto-rickshaw

The main two key objectives of this scheme are to speed up the electric vehicle adoption in the country to guide towards the eco-friendly option and to improve income for drivers who wish to choose an electric than a fossil fuel-burning internal combustion engine-powered vehicle.

In the next one year, 10,000 and one lakh by 2024 electric vehicles will be financed by them, as the company is committed to it.

According to TWU, the electric three-wheelers are more attractive and profitable to the drivers as it has a low cost of ownership and maintenance.

Related: First Stainless-Steel E-rickshaw in India

However, the social enterprise has noticed that more than 50 per cent of the auto-rickshaws in India driven by the drivers are on the rent due to the financing options, thwarting converting to electric vehicles.

TWU will deploy a community approach and financial products in its buyback scheme. “The current government schemes aimed at removing older vehicles have their challenges, mainly that it is very difficult for a vehicle to qualify. This means older and highly pollutive vehicles continue to ply the roads,” said TWU.

Apart from these, big industry player Mahindra Electric has also joined hands with TWU to promote the scheme. “The buyback scheme will definitely make it easier for auto drivers to switch to sustainable and more economically viable products,” said Mahindra Electric chief executive Mahesh Babu.

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