Mumbai: In a move set to revolutionize the electric vehicle (EV) landscape in India, Ecofy, the green-only Non-Banking Financial Company (NBFC) backed by Eversource Capital, has joined forces with TVS Motor Company, a major player in the global automotive sector. This strategic partnership aims to propel the growth of the electric three-wheeler (3W) market by providing accessible and innovative financing solutions, paving the way for sustainable mobility nationwide.
Rajashree Nambiar, Co-Founder, MD & CEO of Ecofy, expressed enthusiasm about the partnership, stating, “Teaming up with TVS Motor Company perfectly aligns with our mission for a sustainable energy future. This collaboration will allow us to offer comprehensive financing packages for both passenger and cargo electric three-wheelers. With TVS Motor’s established industry presence, extensive distribution network, and trusted brand, Ecofy is well-positioned to make a significant impact in the EV financing market. We expect robust growth in fiscal year 2025 as we scale our operations to meet rising demand.”
Rajat Gupta, Business Head of Commercial Mobility at TVS Motor Company, added, “This partnership allows us to integrate our manufacturing expertise with Ecofy’s innovative financial solutions. Together, we aim to not only accelerate growth but also foster innovation and deliver exceptional value to our customers in the electric three-wheeler segment. It reflects our continued commitment to sustainable mobility solutions.”
Ecofy and TVS Motor Company plan to roll out customized financing schemes tailored to make TVS electric vehicles more accessible and affordable. These initiatives aim to drive EV adoption and set a new benchmark for EV financing in India, marking a significant step forward in the country’s journey toward green mobility.
