Manba Finance Enters EV Battery Financing; Launches Battery Replacement Loans for Electric Three-Wheelers

Manba Finance Limited (NSE: MANBA | BSE: 544242), a leading NBFC in vehicle financing, today announced the launch of its Battery Replacement Financing product - a dedicated loan offering to finance new lithium-ion batteries for electric three-wheelers (e-rickshaws and e-carts).

The lithium-ion battery is the heart of an electric three-wheeler and typically the single largest recurring expense for its owner-operator, with a working life materially shorter than that of the vehicle itself. For lakhs of e-3W drivers across India, a battery nearing end-of-life directly threatens daily earnings. Manba's new product is designed to bridge exactly this gap - enabling customers to replace their battery at the point of need through an affordable, smallticket, short-tenure loan, and get back on the road without disruption to their livelihood.

Key highlights of the offering:

- Purpose-built financing for replacement lithium-ion batteries (with charger kits) for electric three-wheelers.

- Small-ticket, short-tenure loans designed around the earning cycle of e-3W owner-operators.

- Batteries sourced only from empaneled, quality-certified OEMs with warranty and servicenetwork support.

- Technology-led process - digital onboarding, e-mandate based repayments and IoT-enabled batteries.

- Phased rollout, beginning with Manba's existing electric three-wheeler customer base, followed by a wider market rollout in due course.

Commenting on the launch, Mr. Manish Shah, Managing Director, Manba Finance Limited, said: "A customer with a dead battery is a customer who stops earning. Battery replacement financing is a natural extension of our vehicle finance franchise - it protects our customers' livelihoods, strengthens our existing portfolio and positions Manba deeper in the fast-growing EV ecosystem. We are starting with our own customers, whom we know and understand best, and will scale the product to the wider market in a calibrated manner."

The launch reflects Manba's strategy of building products around the full lifecycle of the vehicles and customers it finances. With India's electric three-wheeler segment continuing to lead EV adoption in the country, battery replacement represents a large, recurring and underserved financing need - one that Manba is well placed to address through its branch network, dealer relationships and deep understanding of the last-mile mobility customer.

The product will be rolled out in a phased manner across select locations within Manba's existing footprint, with expansion linked to portfolio performance and market response.

Shares of Manba Finance Limited was last trading in BSE at Rs. 140.20 as compared to the previous close of Rs. 137.95. The total number of shares traded during the day was 17530 in over 330 trades.

The stock hit an intraday high of Rs. 141.00 and intraday low of 137.25. The net turnover during the day was Rs. 2434716.00.

Source : Equity Bulls

Keywords

ManbaFinance INE939X01013 NBFC EVBatteryFinancing