Pakistan, September 29, 2023 – YES Electromotive, a pioneer in electric vehicles, has partnered with Wasl Investment Finance Ltd, a non-bank finance company (NBFC), to offer accessible EV financing options for their upcoming “MUVA” an electric three-wheeler, scheduled to be launching in early 2024.
A formal signing ceremony that commemorated this partnership was attended by senior executives from both parties.
As per arrangement, Wasl will be the primary financing source for MUVA customers such as drivers and corporates, providing competitive installment options. With rising fuel costs, the MUVA promises a 25% reduction in operating expenses compared to traditional internal combustion engines.
EVs typically have higher upfront costs, and intermediaries like Wasl will play a crucial role in bridging the initial financing gap, which is offset by future fuel savings.
Speaking about the partnership, Hasan Mian, CEO of YES Electromotive, stated, “Welfare of our countrymen is our top priority and partnerships like this will spell convenience and benefits for one of the largest percentages of daily earners.”
Faraz Zaidi, CEO of Wasl Investment Finance Ltd., expressed optimism, saying, “This collaboration promises not only financial benefits through improved efficiencies but also an enhanced experience for drivers and passengers, intending to reduce our nation’s dependence on fossil fuels.
This partnership represents a milestone in democratizing access to sustainable and cost-effective transportation, aligning with global efforts to combat soaring fuel costs and reduce environmental impact.
