EV financing

EV Financing: Shell Foundation Backs Mufin Green Finance with INR 80 Million

Mufin Green Finance, an electric vehicle (EV) financing company, secured funding of INR 80,000,000 from the UK-registered charity, Shell Foundation. The collaboration aims to establish a joint de-risking pool valued at $2 million, known as First Loan Default Guarantee (FLDG), to catalyze commercial debt. This strategic move is expected to enable Mufin Green Finance to […]

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9 EV Financing Startups in India Accelerating EV adoption

The electric vehicle (EV) revolution in India is gaining momentum, driven by technological advancements, environmental consciousness, and government initiatives. With growing awareness of its benefits, electric vehicles (EVs) are emerging as a promising choice for prospective vehicle buyers. In the first half of CY2023, the EV sales crossed the 100,000-unit mark on average each month, […]

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Fintech platform Rupyy Partners with OEMs for Foray into EV Financing

Rupyy, a FinTech platform, recently announced its foray into the electric vehicle (EV) financing segment. The firm claims says it is building on its mission to revolutionize the financing experience for all vehicle financing categories, Rupyy has partnered with original equipment manufacturers (OEMs) and multi-brand outlets (MBOs) in the EV industry to offer flexible and […]

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In E3W segment, customer base may be new to credit or lack strong credit score: Sameer Aggarwal, Revfin

EV finance firm Revfin claims that it has financed over 17,118 electric vehicles in the last 51 months (as of March 2023). This translates to financing 11 electric vehicles everydayin the last 1530 days. The vehicles are plying in over 200 cities across 16 states of India. Revfin also underwrites financially excluded and underserved segments […]

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Three Wheels United & Eqaro Partnership with Log9 Materials For EV Financing

Access to EV financing is an issue multiple players are looking to tackle. Among the various deterrents to EV financing, a key challenge is the nascency of the technology, which has not only led to questions on the reliability and performance but also to an assumed zero residual value by the financing institutions. The uncertainty […]

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Saera Electric Auto Enters into Vehicle-Financing Tie-up with AMU Leasing

Electric vehicle maker Saera Electric Auto Private Limited (SEAPL) has entered into a vehicle financing contract with non-banking financial company (NBFC), AMU Leasing Pvt. Ltd (ALPL). The agreement paves the way for the customers of SEAPL looking to buy electric vehicles to avail financing options from ALPL.  Manufacturers have been seeking tie-ups to speed up […]

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HDFC Bank to Make Significant Investments in EV Loans

Despite certain setbacks on the level of the auto industry, HDFC Bank is seeking to triple its financing for electric vehicle (EV) purchases in the next three years. This is due to an early assessment that lending is proving to be profitable. The banking institution aims to triple the ebook dimension by 2025 after initially […]

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Three Wheels United Forays into Two-Wheeler EV Financing

Bengaluru-headquartered fintech firm for EV financing, Three Wheels United (TWU) has forayed into two-wheeler EV financing. TWU plans to finance 2000 two-wheelers in Delhi NCR and Karnataka during the next six months. Established in 2017 by Cedrick Tandong, Kevin Wervenbos, and Apurv Mehra, TWU is focused  on simplifying finance for the adoption of EVs in […]

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