Now Buy Biliti Electric’s Taskman E3W Autos Through SIDBI’s Digital Prayaas App

BW Online Bureau Jun 13, 2022

Founded in 2021, California-based Biliti Electric has announced that Small Industries Development Bank of India (SIDBI), the principal financial institution engaged in the promotion, financing and development of MSMEs, has approved to sanction loans to those who are interested in purchasing GMW Taskman Electric 3W Autos, through its Digital Prayaas program.

Digital Prayaas is an App-based end-to-end digital lending platform to facilitate access to low-cost borrowings for micro-entrepreneurs/micro enterprises. Further, to cater to the aspiring youths in the urban area, SIDBI has also tied up with a major aggregator viz., BigBasket, to onboard its delivery partners across the country and provide loans at an affordable interest rate for the purchase of environment-friendly electric vehicles suitable for deliveries.

The development enables BigBasket delivery partners to purchase GMW Taskman 3W vehicles at an 8-10 percent interest rate and provide a regular stream of revenue, allowing them to lead a sustainable livelihood.

Biliti’s Taskman vehicle is the first in the e-van segment to get financing approval as part of the program.

Department of Financial Services Secretary, Debasish Panda while launching the initiative, appreciated the role played by SIDBI in meeting the financial requirements of the people at the bottom of the pyramid by offering loans at an affordable rate through its Digital Prayaas program.

Biliti Electric currently operates through an exclusive manufacturing partnership with Hyderabad- based Gayam Motor Works (GMW) for manufacturing its three-wheelers.

Biliti’s Taskman is a last-mile delivery vehicle that is deployed in 15 countries across the globe including Japan, USA, UK, France, Portugal, Germany, Lebanon, Uganda, Kenya, Senegal, Nepal, Bangladesh, Dubai, and India.

Taskman has covered over 20 million miles and is being used by Amazon, IKEA, Wasoko (Sokowatch), BigBasket (Tata), Zomato, Flipkart (Walmart), and JioMart (Reliance) among others.