Manba Finance Launches Battery Replacement Loans, Targeting Livelihood Protection in EV Ecosystem

Manba Finance Launches Battery Replacement Loans, Targeting Livelihood Protection in EV Ecosystem​

Manba Finance Limited, a leading vehicle financing non-banking financial company (NBFC), has introduced a dedicated Battery Replacement Financing product aimed at electric three-wheeler owners. The new loan offering is designed to finance the purchase of replacement lithium-ion batteries for e-rickshaw and e-cart operators, significantly deepening Manba's engagement within the rapidly growing EV ecosystem in India.

The launch addresses a critical operational challenge faced by lakhs of e-3W drivers across the country. Since the battery is often the largest recurring expense and has a working life shorter than the vehicle itself, a failing battery poses a direct threat to the daily earnings of its owner-operator. Manba's product is specifically engineered to bridge this gap, allowing customers to replace their batteries at the point of need through an affordable, short-tenure financing solution, ensuring continuity in their livelihood.

Key Features and Product Design​

The Battery Replacement Financing product includes several focused features designed for the specific needs of the e-3W segment:

• Purpose-Built: The financing is dedicated solely to replacement lithium-ion batteries, including necessary charger kits, for electric three-wheelers.
• Financial Structure: The loans are structured as small-ticket, short-tenure arrangements aligned with the earning cycles of e-3W owner-operators.
• Quality Assurance: Batteries must be sourced exclusively from empaneled, quality-certified Original Equipment Manufacturers (OEMs) and include warranty and service network support.
• Technology Focus: The financing process leverages a technology-led approach, which incorporates digital onboarding, IoT-enabled batteries, and e-mandate based repayments.

The product is being rolled out in phases. Initially, the financing will target Manba's existing electric three-wheeler customer base. A wider market rollout is planned following this initial phase.

Strategic Move to Support EV Growth​

Manish Shah, Managing Director of Manba Finance Limited, emphasized that the launch reflects a strategic commitment to supporting the full lifecycle of the vehicles and customers they finance. He stated that "A customer with a dead battery is a customer who stops earning." The financing initiative, he noted, is a natural extension of their vehicle finance franchise, protecting customer livelihoods and positioning Manba deeply within the fast-growing EV ecosystem.

This move underscores Manba's strategy to address this large and recurring underserved financing need within India's electric three-wheeler segment, a market where the company is uniquely positioned due to its extensive branch network, dealer relationships, and deep understanding of last-mile mobility consumers.

About Manba Finance Limited​

Manba Finance Limited has been an established vehicle financing NBFC since 1996 and is listed on both NSE and BSE. The company provides a range of retail lending products, including loans for two-wheelers, three-wheelers, electric vehicles, used cars, small businesses, and personal loans, with a loan book that is over 90% secured.

Manba serves customers across urban, semi-urban, and rural markets through a network spanning 130 or more locations across six states: Maharashtra, Gujarat, Rajasthan, Madhya Pradesh, Uttar Pradesh, and Chhattisgarh. The company partners with over 1,500 dealers and maintains assets under management exceeding ₹1,700 crore.

The organization has recently expanded its footprint into South India through a strategic partnership with Sreesastha (Nammaloan), covering Karnataka and Tamil Nadu. Manba Finance operates on a technology-led platform designed for swift financial services, offering in-principle approvals in as little as one minute and providing a fully digital, paperless journey from application to disbursal.

MANBA Stock Price Movement​

Shares of Manba Finance Limited are edging higher to ₹140.95 as of 10:27 AM today, gaining 0.80% in live trading. The stock is currently navigating a tight intraday range, trading between the lows of ₹139.7 and highs registering at ₹145.0.