February 04, 2023

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Manappuram Finance Signs MoU-Providing Loans To EV Consumers

Manappuram Finance Signs MoU

Manappuram Finance Signs MoU-Manappuram Finance Limited is India’s leading gold loan Non-Banking Finance Company has signed an MoU with the Autolite (India) Limited to provide loans to the Electric Vehicles dealers and customers.




Manappuram Finance Signs MoU-Providing Loans To EV Consumers

Autolite (India) Limited (Autopal-MPG Group), is an automotive industry for five decades. Autopal-MPG Products are being exported to more than 56 Countries. The company is into the manufacture of electric vehicles-Two and Three Wheeler, lithium-Ion battery packs and solar products.

MoU between the Manappuram Finance Ltd and Autolite (India) Ltd

The MoU (Memorandum of understanding has been signed between the two companies that Manappuram Finance will engage its widespread network of over 3000 branches available across India to provide the financing solutions to Autopal EVs consumers.

Manappuram Finance Signs MoU benefits all the 75-plus dealers of AIL

The partnership will benefit all the 75-plus dealers of AIL spread across India in providing sales to its consumers.




Head of Commercial Vehicle Manappuram Finance

Senthil Kumar, head of Commercial Vehicle, Manappuram Finance Commenting on the agreement said, “Our association is a new development in the electric vehicle industry, thereby, benefitting the consumer, electric manufacturers, financing companies and government in the long run.”

“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.”

Director of Autolite India 

Adarsh Mahipal Gupta, director, Autolite India said, “Manappuram’s competitive financing model and wide reach across India will surely nurture a value addition to Autolite’s dealers and customers.”




“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 to facilitate their smooth entry into the world of Autopal EVs.”

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