Evfin partners with MCSL for ₹150 crore electric two-wheeler financing

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.

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