COGOS Partners with Three Wheels United to Provide EV Financing to Driver Partners, Auto News, ET Auto


New Delhi:
Bengaluru-based logistics start-up COGOS on Tuesday announced its partnership with three Wheels United (TWU), a light electric vehicle financier, to provide electric vehicle (EV) financing solutions to partner drivers.

According to a press release, this partnership will further encourage partner drivers to remain relevant to the changing needs of the logistics business and to secure easy financing for electric vehicles. This merger will easily finance more than 500 VE.

The combination between COGOS and TWU responds to current market challenges by providing smoother financing on the road price, easy payments and assured profits, according to the company statement.

he changing landscape and changing customer demands have changed the dynamics of logistics businesses. EV as a business model seems ideal to many; However, the financing of electric vehicles has been a major obstacle to full adoption of electric vehicles.Prasad Sreeram, CEO and Co-Founder, COGOS

Prasad Sreeram, CEO and Co-Founder of COGOS, said: “The changing landscape and changing customer demands have changed the dynamics of logistics companies. EV as a business model seems ideal to many; However, funding for EVs has been a major barrier to full adoption of EVs. We are very excited about the partnership with TWU. In addition to ensuring the acceleration of our electric vehicle adoption goals, it also helps our driver partners to be relevant to current market demands. ”

Cedrick Tandong, CEO and Co-Founder of Three Wheels United, said: “We continue to expand our partnership with logistics operators, making it easier for logistics partners and their drivers to switch to electric vehicles through the platform. TWU form. Our partnership shows our commitment to logistics operators and their drivers who can now easily switch to economical, very profitable and less polluting vehicles. We welcome other partners on board ”

COGOS said it plans to roll out the electric vehicle fleets from Tier 1 and Tier 2 cities.

The startup recently announced its plan to roll out 2,500 electric vehicles by the end of 2023. The company says its electric vehicle fleet could contribute to a reduction of 15,000 tonnes of CO2 per year, when operating at full capacity.

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