Convergence Energy Services has tied up with a fintech firm specialised in electric vehicle finance, Three Wheels United, for the procurement of 70,000 electric three-wheelers in the next five years. Convergence Energy Services (CESL), a wholly-owned subsidiary of Energy Efficiency Services Ltd. (EESL), has signed a Memorandum of Understanding (MoU) with Three Wheels United (TWU) in this regard.
CESL will procure 70,000 electric three-wheelers (E3Ws) to be deployed in multiple phases across India over a period of five years, a company statement said.
The initial procurement of these E3Ws by Three Wheels United, averagely priced at Rs 3 lakh and Rs 3.5 lakh for passenger and cargo categories, respectively, will be for deployment in Bengaluru and Delhi.
