Lucknow, June 26, 2024 – In a bold move towards accelerating electric vehicle (EV) adoption and promoting sustainable mobility, Revfin, India’s leading digital lending platform, has launched the ambitious ‘Jagriti Yatra Abhiyaan’ in Uttar Pradesh. The initiative, unveiled at The Taj in Lucknow, builds on the success of Revfin’s previous #RevfinBharatYatra campaign, and aims to position EVs as a central component in the state’s journey towards environmental sustainability, financial independence, and social empowerment.
The ‘Jagriti Yatra Abhiyaan’ aligns with Uttar Pradesh’s strategic goal of achieving 100% EV usage in government departments by 2030. This initiative underscores the state’s commitment to fostering a robust EV ecosystem, which is essential for reaching net-zero emission targets and promoting green mobility. The campaign emphasizes the transformative potential of EV adoption, not only for reducing carbon emissions but also for enhancing economic and social well-being.
At the launch event, Sameer Aggarwal, Founder & CEO of Revfin, emphasized the critical role of Uttar Pradesh in the company’s vision. Aggarwal highlighted the significant investments being made in charging infrastructure and the abundant opportunities within the state’s burgeoning EV market. During his presentation, Aggarwal reiterated Revfin’s commitment to sustainable mobility, stating, “Uttar Pradesh is pivotal for Revfin’s operations. We aim to disburse loans worth Rs. 3000 crore across various cities in Uttar Pradesh, capturing a 20% market share by 2027. Through the Jagriti Yatra Abhiyaan, we aspire to raise awareness and promote EV adoption across the state, positioning electric vehicles as ‘Zimmedari Ki Sawaari’ – vehicles of responsibility that drive not only environmental benefits but also social and financial empowerment.”
The event featured a panel discussion titled “RevUp Uttar Pradesh: Collaborative Strategies for Accelerating EV Adoption and Sustainable Mobility,” which brought together over 30 EV dealers and industry leaders. This discussion focused on collaborative strategies to enhance EV adoption and develop a sustainable mobility framework within the state.
Uttar Pradesh leads India in EV adoption, driven by a comprehensive strategy centered on three pillars: accelerating EV adoption, building a supportive ecosystem with necessary infrastructure, and fostering manufacturing capabilities. The ‘Jagriti Yatra Abhiyaan’ will bolster this strategy, targeting high-potential cities such as Lucknow, Prayagraj, Varanasi, Ayodhya, Gorakhpur, Basti, Deoria, Bahraich, Lakhimpur, and Bareilly. Over the next two months, a series of marketing and customer engagement campaigns will be conducted in these cities to raise awareness and promote EVs as a viable transportation solution.
Revfin’s contribution to Uttar Pradesh’s EV ecosystem is substantial, particularly in empowering women and expanding its reach across the state. Women constitute 23% of Revfin’s customers, many of whom have gained financial independence by operating e-rickshaws for commercial purposes. With a presence in 240 cities and towns, Revfin has positively impacted 60 lakh lives through 400 points of sale and partnerships with 30 original equipment manufacturers (OEMs). This extensive network underscores Revfin’s dedication to financial inclusion and sustainable mobility.
Looking ahead, Revfin plans to partner with leading OEMs such as Bajaj Auto, Bounce Infinity, City Life, Kinetic Green, Lectrix, Saarthi, Tata Motors, Udaan, and Yatri to rapidly scale the EV market in Uttar Pradesh. To date, Revfin has disbursed over INR 800 crore in loans, funding more than 55,000 electric vehicles across 22 states in collaboration with over 1,500 dealerships and 50 top OEMs.
As Revfin continues to drive the ‘Jagriti Yatra Abhiyaan,’ it sets a compelling example of how focused initiatives and strategic partnerships can propel the adoption of sustainable technologies, paving the way for a greener and more equitable future.
