Greaves Finance Limited through its 100% ev-focused lending platform evfin announced a partnership with Muthoot Capital Services Limited (MCSL), to launch a pioneering colending arrangement to increase the availability of electric two-wheeler financing solutions across India. The collaboration entails a total deal size of up to INR 1,500 million ($18 million), highlighting the scale and ambition of the initiative to drive widespread adoption of electric vehicles in India. As the demand for electric vehicles (EVs) continues to surge in India, this collaboration underscores both companies' commitment to accelerating the adoption of sustainable transportation alternatives.

Leveraging evfin's expertise in customised automotive financing based on asset lifecycle management and Muthoot Capital's established presence in the financial sector, this partnership aims to facilitate affordable, customised, and convenient financing options for customers looking to purchase electric two-wheelers. Both companies are committed to supporting a diverse range of renowned electric two-wheeler manufacturers, including OLA Electric, Ather Energy, Ampere, Hero MotoCorp, and TVS Motor. By collaborating with leading OEMs, the initiative aims to provide customers with a wide array of options while fostering innovation in the electric vehicle sector.

By providing comprehensive financing solutions for electric two-wheelers, the two companies are poised to play a pivotal role in shaping the future of mobility in India.