Ecofy, India’s green-focused non-banking financial company (NBFC) supported by Eversource Capital, has announced a strategic collaboration with TVS Motor Company, a leading global two and three-wheeler manufacturer. This partnership aims to transform the landscape of electric three-wheeler financing in India, promoting sustainable mobility and encouraging widespread EV adoption.
Rajashree Nambiar, Co-Founder, MD & CEO of Ecofy, expressed optimism about the collaboration, stating, “This partnership aligns with our commitment to a clean energy future. It enables us to offer comprehensive financing solutions for both passenger and cargo electric three-wheelers. By leveraging TVS Motor’s vast industry experience and distribution network, Ecofy aims to make a significant impact in the EV financing space, with substantial growth expected in FY 2025.”
Rajat Gupta, Business Head of Commercial Mobility at TVS Motor Company, added, “Our collaboration with Ecofy combines our manufacturing expertise with their innovative financial services. Together, we aim to drive growth, foster innovation, and provide exceptional value to customers in the electric three-wheeler segment, aligning with our commitment to sustainable mobility solutions.”
To facilitate EV adoption, the partnership will introduce customized financing schemes for TVS electric vehicles, making them more accessible and affordable. These tailored offerings are set to redefine the future of EV financing in India.
