Roadcast and AMU join forces to revolutionise EV financing in India

Roadcast, a leading SaaS-based logistics automation platform, and Accelerated Money for U (AMU), a prominent non-banking financial company (NBFC) specialising in electric vehicle (EV) financing, have announced a partnership. The purpose of this partnership is to increase security, advocate for the use of EV technology, and advance environmental concerns with funding from AMU financed e-rickshaw integration of Roadcast’s GPS technology.

AMU wants to install Roadcast’s more complex GPS system on as many of the financed e-rickshaws as is feasible, which is consistent with both companies’ objectives of promoting the increase in the uptake of technology as well as the development of the national IoT. Through this partnership, it is believed that the market will be changed dramatically focusing on the Tier-2 and Tier-3 cities thus expanding its opportunities in these regions.

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Roadcast has been in the limelight for the fleet management solutions that it offers; smart solutions which include GPS tracking. On the other hand AMU has continued to support the adaptation of EVs across the region of India. By integrating Roadcast’s technology to GPS enablement of three-wheeler e-rickshaws AMU at Suspense account, it will be possible to foresee and diagnose non performing assets as well as riders on the brink of defaulting. This will help AMU to make effective decisions hence improving on their operations.

"As a tech-first company, we're committed to leading the green revolution alongside the increasing adoption of electric vehicles," said Rahul Mehra, co-founder of Roadcast. "Our partnership with AMU allows us to significantly enhance public access to advanced, connected EVs. Roadcast’s GPS technology will enable faster fund reallocation and provide predictive insights, supporting proactive risk management strategies. This will ensure that potential issues are identified early, allowing for quicker interventions and more efficient fund recovery, ultimately improving financial operations and stability in the EV sector."

Nehal Gupta, Founder & MD of AMU, shared his enthusiasm about the collaboration: "We are glad to partner with Roadcast. This collaboration will help us identify vehicles at risk of default early on, allowing us to intervene effectively and streamline our fund allocation process. The real-time vehicle tracking provided by Roadcast will enhance security and reliability through efficient EV operations."