Overview
Manba Finance Limited (NSE: MANBA, BSE: 544242), a leading non‑bank financial company in vehicle financing, announced on 22 July 2026 the launch of a Battery Replacement Financing product aimed at financing new lithium‑ion batteries, including charger kits, for electric three‑wheelers such as e‑rickshaws and e‑carts.
Product Features
The loan is structured as a small‑ticket, short‑tenure facility that aligns with the earning cycle of owner‑operators of electric three‑wheelers. Batteries must be procured from empaneled, quality‑certified original equipment manufacturers that provide warranty and a service‑network. The offering leverages a technology‑led process with digital onboarding, e‑mandate based repayments and IoT‑enabled batteries to monitor usage.
Roll‑out Plan
Manba will initially roll out the product to its existing electric three‑wheeler customer base and then expand to a wider market in a phased manner across select locations within its current footprint. Expansion will be linked to portfolio performance and market response.
Management Commentary
Manish Shah, Managing Director of Manba Finance Limited, stated that a customer with a dead battery stops earning, and that battery replacement financing is a natural extension of the company’s vehicle finance franchise, protecting livelihoods, strengthening the existing portfolio and positioning Manba deeper in the fast‑growing EV ecosystem.
Strategic Significance
The launch reflects Manba’s strategy of building products around the full lifecycle of the vehicles and customers it finances, addressing a large, recurring and currently underserved financing need in India’s electric three‑wheeler segment, which continues to lead EV adoption in the country.