As we celebrate EV Day, marking a significant step towards a greener, more sustainable future, it’s clear that financing plays a crucial role in accelerating the adoption of electric vehicles. Whether you’re an individual looking to make the switch to electric or a business aiming to invest in an EV fleet, having access to the right financial support can make all the difference. Here’s a spotlight on five Indian EV financing platforms that are driving the green revolution and making EV ownership more accessible than ever.

Revfin is making waves in sustainable mobility by revolutionizing electric vehicle financing, especially in India’s Tier 2 and Tier 3 cities. Since 2018, Revfin has financed around 50,000 EVs, including electric three-wheelers and charging stations, by leveraging Biometrics, Psychometrics, and Gamification for non-traditional loan approvals.

Their partnership with over 50 OEMs and advancements in EV leasing and IoT-enabled tracking are empowering drivers and businesses, bridging the digital divide and fueling growth in e-commerce and fleet management. Revfin’s innovative approach is driving financial inclusion and accelerating the shift to electric mobility.

Vidyuttech shines by offering innovative financing solutions for small commercial EVs. Founded in Bengaluru in 2021, the company provides a unique battery-as-a-service model, reducing upfront costs and enabling lower interest rates of around 7%. Partnering with top EV makers like Mahindra and Altigreen, Vidyuttech is making it easier for fleet operators to go electric. Recently, the company raised $4 million to further its mission of revolutionizing commercial EV ownership.

Rupyy is making strides in electric vehicle financing with key partnerships including Pure EV, Trinity, and Hero Electric. Their extensive network with major OEMs and multi-brand outlets ensures flexible, accessible loans for a wide range of consumers, streamlining the transition to electric mobility.

Mufin Green Finance shines with its extensive presence across 14 states, offering tailored financing for electric two-wheelers, three-wheelers, and four-wheelers. Known for competitive rates and flexible terms, MGF has disbursed 9,000 loans in Uttar Pradesh alone. Recent partnerships with LoanTap and IREDA aim to expand its reach to 100,000 consumers and cut borrowing costs by 40%, driving the future of sustainable mobility.

Ecofy is making a mark with its commitment to affordable and accessible electric vehicle financing. Known for its hassle-free loan approvals and minimal documentation, Ecofy is dedicated to accelerating the shift to sustainable mobility.

Recently, Ecofy partnered with Piaggio Vehicles (PVPL) to offer financial support for electric three-wheelers, catering to both individuals and businesses. By providing attractive interest rates and streamlined financing options, Ecofy is helping to drive the adoption of electric vehicles and support a greener future.

On EV Day, it’s evident that innovative financing is crucial for accelerating electric vehicle adoption. Platforms like Revfin, Vidyuttech, Rupyy, Mufin Green Finance, and Ecofy are leading the charge with unique solutions. From Revfin’s focus on financial inclusion in smaller cities to Vidyuttech’s battery-as-a-service model, Rupyy’s broad OEM partnerships, Mufin’s extensive state coverage, and Ecofy’s user-friendly loans, these platforms are making EVs more accessible and affordable. Their efforts are driving a greener future and demonstrating how effective financing can support sustainable mobility.