Cubical Financial Services Limited has signed a Memorandum of Understanding (MOU) with Consider Done EV Mobility LLP to finance the sale of electric rickshaws. This agreement, effective from November 12, 2026, aims to facilitate consumer financing for e-rickshaws sold through Consider Done EV Mobility’s dealer network. The MOU is a non-binding framework and does not involve immediate financial commitments, but it signifies a strategic entry into the electric vehicle financing sector.
Cubical Financial Services Expands into EV Financing
Cubical Financial Services Limited, a Non-Banking Financial Company, has announced a significant step into the electric vehicle market. On November 12, 2026, the company entered into a Memorandum of Understanding (MOU) with Consider Done EV Mobility LLP. This strategic alliance is set to facilitate the financing of electric rickshaws (e-rickshaws) sold through Consider Done EV Mobility’s extensive dealer and distributor network.
Details of the MOU
Consider Done EV Mobility LLP, engaged in manufacturing and selling electric vehicles, aims to boost sales and improve affordability by offering financing options to consumers. Cubical Financial Services will provide the necessary retail financing for these e-rickshaws. The MOU is structured as a non-binding framework agreement. As of the announcement, it does not involve any immediate acquisition, disposal of assets, equity participation, or financial commitment from either party, and therefore has no immediate material financial impact.
Agreement Terms
The agreement is set to remain effective from its execution date and can be terminated by either party with a prior written notice of at least three months. The transaction is not considered a related party transaction and is expected to be conducted at arm’s length.
Regulatory Compliance
This disclosure is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirms that the MOU execution is in the ordinary course of business.
Source: BSE
