TVS Motor signs deal with Ecofy, will offer loans for electric 3-wheelers in India
Non-banking financial company (NBFC) EcoFi has announced a partnership with TVS Motor to provide loans for three-wheelers. The two companies said in a joint statement that this strategic collaboration aims to accelerate the adoption of electric three-wheelers in the country and promote eco-friendly transportation. Eversource Capital-backed EcoFi is a non-banking financial company (NBFC) providing financing for the green sector.
Promoting clean energy
TVS Motor Company is the country’s leading two-wheeler and three-wheeler manufacturer. In this regard, EcoFi’s co-founder, managing director (MD) and chief executive officer (CEO) Rajshree Nambiar said in a statement, “This partnership with TVS Motor Company is in line with our commitment to clean energy. With TVS Motor’s strong distribution and network, we will be able to offer comprehensive financing solutions for both passenger and cargo electric three-wheelers. “
Strong growth expected
He said that we expect strong growth in the current financial year, which will be a milestone in our expansion journey. Rajat Gupta, head of commercial vehicle business of TVS Motor Company, said, “Collaborating with EcoFi will give us an opportunity to combine our manufacturing expertise with their innovative financial services. This is in line with our commitment to provide environmentally friendly transportation solutions.”
