Etrio Touro Electric Three-Wheeler Leasing Options Announced In India: Here Are All Details

The new leasing plan will cater to large corporate customers, who are looking to adopt EVs for cargo on a large scale. The new leasing plan will help the company's aim to sell over 1,000 electric three-wheelers in the next six months in the country.

The new leasing from Etrio is called the ‘E-Lease' which will be available for both variants of the Touro cargo electric three-wheeler: the Mini and the Max. The lease period offered by the company ranges between 18 and 42 months. The lease option will be offered to customers who are ordering a minimum quantity of 20 Touro EVs.

Customers seeking the E-Lease option from the company will be checked for eligibility from their financial and operational track record. Once the customer is eligible, they can choose from various options to start the leasing services.

The leasing service will be available in various formats including the basic plan covering just the vehicle. However, there are top-end plans that will cover insurance, maintenance and telematics costs as part of the E-Lease plan. The E-Lease will also have top-up services like Annual Maintenance Contract (AMC) and Roadside Assistance (RSA), which is offered at an additional cost over the basic plan.

The leasing plans start from Rs 7,000 per month per vehicle which also includes servicing costs. The E-Lease plans will be initially available for only the Touro Mini model at select cities. This includes Hyderabad, Delhi and Bangalore.

However, the company will be extending the leasing services to the Touro Max model in the next few months. Additionally, the leasing service will also be extended to other cities across the country.

Deepak MV, CEO and co-founder, Etrio said, "With the launch of Touro, we have built sizeable order books with the leading logistics players especially those operating in the e-commerce last-mile ecosystem. We have also successfully completed a series of pilots with them. Through E-Lease, we intend to unlock this current strong demand for electric cargo vehicles. Our ground-breaking lease offering will provide a great opportunity for various corporates including logistic players to electrify their fleet and at the same time retain their asset-light business model. Through this model, we propel our mission to be the leading EV player in the intra-city logistics space."

"The best feature of E-Lease is that it provides the customer with a lease rental which is much lower than the EMI loan as a prescribed resale value of the vehicle is deducted upfront. Further, the customer has two options at the end of the leasing period - Return the vehicle or Own the vehicle by paying the agreed resale value," he further added.

Thoughts About The Etrio Touro Electric Three-Wheeler Leasing Options Announced In India

The demand for electric three-wheeler has seen a significant increase in the Indian market. With the launch of Etrio's leasing plan, the company aims to help customers with faster adoption of EVs across the country. The Touro Mini and Max cargo model will help with delivery service for various e-commerce sites in the country.