Lahore, Punjab Oct 13, 2023 (Issuewire.com) - YES Electromotive, a pioneer in Electric Vehicles and Wasl Investment Finance Ltd., a prominent non-bank finance company (NBFC) have joined forces to offer accessible financing options for the upcoming "MUVA" electric three-wheeler. This partnership directly addresses the challenge of high upfront costs associated with EVs, making them more affordable for drivers and corporations.
A formal signing ceremony that commemorated this partnership was attended by senior executives from both parties.
The MUVA, which is scheduled to launch in 2024, promises a significant 25% reduction in operating expenses compared to traditional internal combustion engines, making this collaboration timely in the face of escalating fuel prices. Wasl Investment Finance Ltd. serves as the primary financing source, providing competitive installment options, alleviating financial burdens, and enabling a cost-effective switch to sustainable transportation.
Both parties emphasized the broader impact of this partnership on the environment. By encouraging the use of electric vehicles EVs, this collaboration aligns with global efforts to combat increasing fuel prices and reduce the nation’s dependence on fossil fuels. This partnership represents a significant stride towards sustainable and economically viable transportation, demonstrating a strong commitment to environmental responsibility.
This partnership goes beyond a mere collaboration; it represents a deep commitment to the people of Pakistan. Hasan Mian, CEO of YES Electromotive, emphasizes, "Our utmost priority is the well-being of our fellow countrymen. This partnership provides unparalleled convenience and benefits, particularly for our diligent daily earners. It serves as evidence of our unwavering dedication to making a positive impact in their lives."
According to Faraz Zaidi, the CEO of Wasl Investment Finance Ltd., “This partnership offers more than just financial advantages. It brings about increased efficiencies and a better experience for both drivers and passengers, ultimately contributing to a reduction in our country's reliance on fossil fuels.” He emphasized that their goal goes beyond facilitating a transaction; they are actively enabling a sustainable revolution.
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