ETO Motors gets Rs 12.45 crore grant from SIDBI to deploy 300 electric three-wheelers in Delhi and Hyderabad, build charging ecosystem too

The financial support to ETO Motors is under SIDBI’s Mission 50K-EV4ECO which aims at strengthening the EV ecosystem in India, including uptake for two-, three- and four-wheelers through direct and indirect lending. The objective of this scheme is to provide access to affordable financing for electric vehicles and to develop charging infrastructure, including battery swapping.

      The Small Industries Development Bank of India (SIDBI) has granted Rs 12.45 crore to ETO Motors to deploy 300 electric three-wheelers in Hyderabad and Delhi for first- and last-mile passenger connectivity.

      The EV maker will also build an EV charging infrastructure to support the deployment of the electric three-wheelers.

      The financial support to ETO Motors is under SIDBI’s Mission 50K-EV4ECO which aims at strengthening the EV ecosystem in India, including uptake for two-, three- and four-wheelers through direct and indirect lending.

About SIDBI (Small Industries Development Bank of India):