Evfin, the 100 per cent ev-focused lending platform of Greaves Finance Ltd, has entered into a co-lending partnership with Muthoot Capital Services Ltd (MCSL) to expand electric two-wheeler financing across India.
The co-lending arrangement is aimed at increasing the availability of electric two-wheeler financing solutions across India.
The collaboration entails a “total deal size” of up to ₹150 crores ($18 million), highlighting the scale and ambition of the initiative to drive widespread adoption of electric vehicles in India, Greaves Finance and MCSL said in a joint statement.
Both companies will support a diverse range of renowned electric two-wheeler manufacturers, including OLA Electric, Ather Energy, Ampere, Hero MotoCorp, and TVS Motor, it added.
Greaves Finance Ltd is a subsidiary of Greaves Cotton Ltd.