Mumbai, 10 October 2024: Ecofy, India’s pioneering green-only NBFC backed by Eversource Capital and dedicated to bridging the climate finance gap in the Indian retail sector, has announced a partnership with TVS Motor Company, a leading global automaker that operates in the two and three-wheeler segments. In the rapidly growing electric 3W sector, this strategic collaboration aims to boost electric three-wheeler adoption and promote sustainable mobility nationwide.
Commenting on this alliance, Rajashree Nambiar, Co-Founder, MD & CEO of Ecofy, said, “This partnership with TVS Motor Company aligns perfectly with our commitment to a clean energy future and will enable us to offer comprehensive financing solutions for both passenger and cargo electric three-wheelers. By leveraging TVS Motor’s extensive industry experience, robust distribution network, and established brand reputation, Ecofy is poised to make a substantial impact in the EV financing space. We anticipate substantial growth in fiscal year 2025, marking a significant milestone in our expansion journey as we scale our financing operations.”
Rajat Gupta, Business Head of Commercial Mobility, TVS Motor Company, added, “Collaborating with Ecofy allows us to combine our manufacturing expertise with their innovative financial services. Together, we aim to drive growth, foster innovation, and deliver unparalleled value to our customers in the electric three-wheeler segment. This is also in keeping with our commitment to provide sustainable mobility solutions.”
Ecofy and TVS Motor Company are launching customized financing schemes to make TVS electric vehicles more accessible and affordable. These tailored offerings aim to drive EV adoption and redefine the future of EV financing in India.