Mangalam Industrial’s stock rose by 4% after the company signed a strategic Memorandum of Understanding (MOU) with WardWizard Innovations and Mobility Limited, the makers of ‘Joy E-Rik’ electric vehicles. This collaboration is set to accelerate the adoption of electric three-wheelers in India by providing customized financing solutions.
Key highlights of the partnership:
- Financing Joy E-Rik Models: Focused on L3 and L5 electric three-wheelers for passenger and cargo use.
- Affordable Loan Options: Flexible tenures and competitive interest rates to meet diverse customer needs.
- Support for Dealer Networks: Financial assistance to strengthen the electric vehicle ecosystem.
- Exclusive Schemes: Targeted at small businesses, fleet operators, and last-mile delivery services, especially in Tier 1, Tier 2, and rural markets.
Mangalam Industrial shares opened at ₹3.58 today, reaching a high of ₹3.75 and a low of ₹3.58 during the session. The stock has seen a 52-week high of ₹6.97 and a 52-week low of ₹2.71.
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