Terra Motors Partners with Pooja Finelease to Facilitate Electric Vehicle Financing in India, Auto News, ET Auto


New Delhi: Japanese electric two- and three-wheeler maker Terra Motors, with its Indian base in Kolkata, has partnered with Pooja Finelease Ltd, a non-bank finance company, to finance electric vehicles.

Through this partnership with Pooja Finelease, Terra Motors wishes to diversify its business which will focus on loans for electric rickshaws, two and three wheelers and commercial vehicles, and unsecured commercial and personal loans, etc. the company said in a statement.

Akihiro Ueda, CEO of Terra Motors, said: “This partnership between Pooja Finelease and Terra Motors will provide access to a wider audience and support the financing of our North, East and North-East regions. The credit default guarantee will extend the incentives to buyers of electric vehicles and allow them to make a safe purchase ”.

Terra Motors is investing heavily in mergers and partnerships as part of its “Co-Create for Sustainability 2021” model called “Terra Motors Next”. Under this model, Terra Motors intends to create an avenue or an ecosystem allowing its customers, dealers and suppliers to benefit from the services in complete safety. This measure comes as a measure to alleviate the economic concerns raised due to the pandemic. Pooja Finelease will cover wider access to loans on behalf of Terra Motors in the northern, eastern and northeastern regions, the statement said.

“Our partnership with Terra Motors will create a new type of synergy that will increase the volume of business and the local footprint of companies and their partners. It will also help create a cleaner and greener world while allowing the economically weaker section to find easy credit to purchase an Income Generating Asset (EV) for their family that will finance their livelihoods, ”Tanesh said. Gagnani, director of Pooja Finelease Ltd, said.

Based in Japan, Terra Motors has conquered the Indian segment by establishing its manufacturing division in Calcutta using local resources as well as 50% of its raw materials locally, the statement added.

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