Convergence Energy Services Limited (CESL), a wholly owned subsidiary of Energy Efficiency Services Limited, has signed an MoU with Three Wheels United for procurement of 70,000 electric three-wheelers for Indian roads over five years. Three Wheels is a fintech company specialising in electric vehicle (EV) financing. It will procure the EVs in phases. The EVs will be priced at Rs 300,000 and Rs 350,000 for the passenger and cargo categories, respectively, and their initial procurement will be for deployment in Bengaluru and Delhi.
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