Climate Curve

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Project Summary / Description:

The project started by conducting research on what is hindering the autorickshaw drivers from choosing a less polluting option. We identified lack of affordable and accessible finance as the main factor preventing drivers from owning and operating a low carbon vehicle. We then acted as intermediary for banks, managing their portfolios.
We then developed innovative financial technology to reduce default rates and de risk financing this market and are now our own NBFC to directly lending to drivers, providing affordable finance and support to drivers so they can own and operate a smart electric auto rickshaw.

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Best Estimate of GHG Avoidance/Reduction of This Project (Tonnes CO2 Equivalent/Year):

Impact on Underrepresented Groups:

Drivers double their daily income when shifting from renting a vehicle to owning a vehicle. This amounts to over $36k of extra income for drivers over the 15-year life of the vehicle. When shifting from a two or four stroke to an electric vehicle, drivers earn even more due to low operational and maintenance cost of the vehicles (i.e. electricity vs. petrol, no engine to maintain, etc.) This will amount to over $5000 more savings for drivers.
We also support women who are seeking to become auto rickshaw drivers by providing them with free driving training and supporting them through the loan process.

Mission Statement:

Three Wheels United‚ mission is to decarbonize the auto rickshaw market, while putting the autorickshaw drivers first. We use technology and finance to solve the problems faced in the auto rickshaw community in order to empower them to own and operate a smart electric vehicle, and use the vehicles‚ IoT technology to integrate them with public transportation. Thus, reducing the CO2 emissions in the world‚ most polluted cities.

Link: Facebook:

http://Threewheelsunited.com FB: Three Wheels United Twitter: @TWUindia Linkedin: Three Wheels United

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