Etrio Launches 'E-lease' Model for its Made-In-India Electric Three-Wheeler

Etrio on Thursday, February 25, 2021, announced the launch of an attractive leasing model called 'E-Lease' for its newly launched completely made-in-India cargo three-wheeler EV "Touro" Mini. The three-wheeler is available at an easy monthly rental starting from just Rs. 6300 per month for a tenure of three years.

The company in a statement said, "The three-wheeler segment has been the front-runner in India's all-electric mobility vision by contributing over 90 per cent of overall Electric Vehicle Sales. However, the majority of the same has been led by the unorganized e-rickshaw market, with lead-acid batteries, poor build quality, numerous breakdowns, and lack of stability of the product." It added, "Touro Mini is the signature low-speed e-auto designed by Etrio that aims to set a new benchmark amongst the e-rickshaws / e-loaders in the market. Etrio has adopted rigorous design principles for developing a fully made-in-India Touro Mini. It creates a new benchmark by addressing every customer concern ranging from stability, driveability, durability, and real-world performance. This truly makes it a Made-in-India e-Auto."

Touro Mini is available in all the leading cities in India. With a powerful certified range of 100 km on a single charge, this vehicle could carry a payload of up to 350 kgs. Touro Mini comes with an unmatched warranty of 3 years or 1 lakh km for its lithium-ion battery pack with convenient buy-back options. This coupled with a 3 year or 60000 km powertrain warranty makes the vehicle truly electric and completely maintenance-free. Touro Mini cargo and passenger lithium-ion variants are available starting at a price of 1.87 lacs (ex-showroom).

The vehicle is built on a proprietary monocoque chassis structure for longer shelf life, which has been uniquely engineered in a way to have a low center of gravity thereby providing enhanced stability. Etrio`s in-house manufactured aluminium brake drums along with 4*8 tyre aid in superior road grip. An in-house developed rear axle with multiple bearings on each side ensures extremely high motor efficiencies. One of the fundamental problems of ineffective braking and high brake pad replacement in this segment is addressed by a complete hydraulic braking system. The trailing link suspension with helical spring and shock absorber ensure a smooth and stable ride compared to telescopic suspensions used in standard e-rickshaws. A complete sheet metal body ensures a high degree of strength coupled with cost-effective maintenance.

Commenting on the announcement, Deepak MV, Co-founder & CEO, Etrio said, "Touro Mini has been a quite successful launch for us and we are overwhelmed by the responses received for the product. We have worked on numerous pilots with key clients ranging from Amplus EV, Zypp Electric, Lithion Power and others. The positive feedback on the product has reinforced our belief in significant value addition to the last-mile delivery market. Since the launch, we have been continuously getting numerous inquiries for easy financing of our vehicles. E-Lease will provide a hassle-free ownership experience for key enterprise consumers by being asset-light in their books and propel Touro Mini to become an undisputed market leader. We are also ready with the Touro Mini Passenger variant which will be introduced through our Dealer channel."

All electric components are equipped with advanced CAN communication to ensure sophisticated automotive-grade performance and accurate data logging. All Touro Mini's are equipped with an informative user-friendly best in class digital cluster. Touro Mini is run by a highly efficient BLDC motor. The lithium-ion variant comes with a state of art battery architecture to ensure higher product life and also addresses the issue of range anxiety in customers. Charging a Touro Mini is as simple as charging a smartphone. The vehicle comes with a portable charger making it easy to charge anywhere including your home using a regular 15 A socket.

Touro Mini also comes with an optional telematics unit which aids in cloud-based GPS tracking along with health check parameters of the vehicle via the Etrio app available on Google Playstore. A spacious driver cabin equipped with multiple storage compartments increases the utility by multiple-folds. Dual headlamps, dual-tone seat, and bull-inspired front grille adds to the aesthetics of the vehicle. All Touro Mini's come loaded with optional accessories ranging from mobile charging socket, first aid kit, bottle holder, fire extinguisher, etc.

Touro Mini has undergone pilot runs at leading e-commerce and logistics companies in Hyderabad, Delhi, and Bangalore and the responses have been encouraging. The company has now come up with a first-of-its-kind leasing option whereby interested partners can remain asset-light without having any concerns about maintenance. With a minimum lock-in period of 18 months and by just paying Rs. 20,000/- as the first-month instalment the vehicle will be made available to the customer for on-road use. The subsequent monthly EMI's start from Rs. 6300- for the remaining tenure of 35 Months. The E-Lease plan also gives the B2B customers the option to include the 80 cu.ft. load body, insurance, telematics, and registration charges into the E-Lease plan.

Etrio plans to have this leasing option rolled to select a few clients based on their financial viability. The minimum order to avail of the leasing option is 25 vehicles.

About Etrio

Etrio was founded in 2017 with a vision to provide "EV for All" and transform the environment, lives, and businesses. The company brings the widest range of electric vehicles including two, three, and four-wheelers to drive affordable electric mobility. Today, its portfolio has EV products across a payload ranging from 75 kg to 750 kg including the new electric three-wheeler 'Touro', new electric two-wheeler - 'Ashva' and 'i-Switch', and a retrofitted e-LCV. With a comprehensive approach from building reliable and intelligent products and reducing total cost of ownership to ensuring a delightful customer experience, Etrio has in a short span of time established credibility and gained the trust of leading e-commerce and logistics players including Amazon, Flipkart, Lets Transport, Big Basket, GATI, Delhivery, and many others.