Manba Finance has launched its Battery Replacement Financing product--a dedicated loan offering to finance new lithium-ion batteries for electric three-wheelers (e-rickshaws and e-carts).
The lithium-ion battery is the heart of an electric three-wheeler and typically the single largest recurring expense for its owner-operator, with a working life materially shorter than that of the vehicle itself. For lakhs of e-3W drivers across India, a battery nearing end-of-life directly threatens daily earnings. Manba's new product is designed to bridge exactly this gap--enabling customers to replace their battery at the point of need through an affordable, small-ticket, short-tenure loan, and get back on the road without disruption to their livelihood. The product will be rolled out in a phased manner across select locations within Manba's existing footprint, with expansion linked to portfolio performance and market response.
Manba Finance is a registered non-banking finance company, engaged in the business of providing finance. The company primarily deals in the financing of New two wheelers (2Ws,) three wheelers (3Ws), electric two wheelers (EV2Ws), electric three wheelers (EV3Ws), Used Cars, Small Business Loans and Personal Loans.
