Kolkata, Oct 10 (PTI) Snap-E Cabs, a ride-hailing service provider in Kolkata with a 100 per cent electric vehicle fleet, announced collaborations with financial institutions on Tuesday to expand its fleet from 400 to 600 cars.

The company claimed it has entered into partnerships with Mufin Green Finance, Mahindra & Mahindra Finance, ICICI Bank, and HDFC Bank.

Also Read | What Is Hamas? What Does Hamas Want? Know All About Pro-Palestine Group That Rules Gaza Strip and Has Fought Several Rounds of War With Israel.

These strategic partnerships will help Snap-E Cabs achieve its expansion plans for FY'24, which include entering new markets such as Bhubaneswar and Raipur, the company said in a statement.

Mufin Green Finance has leased 100 Tata Tigor cars for 5 years. Mahindra & Mahindra Finance has also leased 50 Tata Tigor cars for 3 years. ICICI Bank and HDFC Bank have also partnered with Snap-E Cabs to provide another 50 Tata Tigor cars in total.

Also Read | Indian Air Force Day 2023 Date, History and Significance: Everything To Know About the Day That Celebrates the Formation of the IAF.

Speaking about the new collaborations, Mayank Bindal, Founder & CEO at Snap-E Cabs, said, "These partnerships align with our vision to provide environmentally conscious transportation options to our customers while expanding our reach and enhancing our service offerings."

The addition of these eco-friendly vehicles to the Snap-E Cabs fleet underlines the company's commitment to reducing its carbon footprint and promoting a cleaner environment.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)