How Mufin Green Finance is contributing
to EV Revolution in India
It is predicted that India’s EV market will have a 90% growth with a 150 billion dollar market value by 2030. The growing modern technology trends for batteries will make EVs more affordable and accessible than petrol, gas, diesel, and other fossil fuels and bring about an electric car revolution in India. Thus, it is safe to say that electric vehicles have a bright future in the automobile industry. However, currently, most electric vehicles are not the most affordable options available in the market even though they offer low-cost maintenance and economical and efficient charging facilities in the future. One of the biggest reasons why the adoption of electric vehicles remains low in a developing country like India is affordability. To provide a reliable solution to this problem, Mufin Green Finance is assisting in the EV revolution by addressing this issue. By creating equal financial opportunities for the unbankable segments of society to use clean technologies, this leading NBFC is making bold impacts. Here are a few ways how Mufin Green Finance is creating an environmentally sustainable society and contributing to the EV revolution in the nation.
By Offering multiple EV financing options along with other features
Mufin Green Finance is a leading NBFC catering to Electric Vehicle Loans for income generation purposes. It creates a significant impact by enabling financing options for various electric vehicles, including electric three-wheelers, two-wheelers, and four-wheelers. Not just that, Mufin Green Finance is among the market leaders who are operating swappable Battery infra for 2W / 3W on committed utilizations. It also enables growth for charge point operators in the country by leasing/ financing charging equipment.
By helping individuals build their Cibil score
Mufin Green Finance aims to bring about a positive social impact in the country. Thus, it helps build the Cibil score for E-rickshaw drivers and women (housewives) who cannot obtain loans from banks and other private sectors. Due to poor financial conditions, their CIBIL score tends to be low and sometimes even fails to show the required income tax returns. Mufin Green Finance assists the unbankable segments of society by providing loans without regard for their CIBIL score. It is thus able to have a significant impact on women’s empowerment while also providing employment.
With an expanding market share
Mufin Green Finance helps the environment by pursuing electric vehicles in the industry. Vehicle pollution is a significant reason for the government to encourage the use of electric vehicles, and Mufin Green Finance has a 5.3% market share in nine active E-rickshaw markets. As a result, it aids in the country’s EV revolution and a sustainable future.
Mufin Green Finance is an Indian pioneer in climate financing solutions. They are assisting the country’s EV ecosystem and, consequently, the EV revolution in India by providing loans for income generation via Electric Vehicles, Electric Charging Infrastructure, and Swappable Batteries. With spending of around 140 crores on electric vehicles, the company has not only impacted the carbon footprint but also raised financial inclusion, income generation, and women’s empowerment in its pursuit to bring about a change in the social settings of our country.