Bangalore: Greaves Finance Ltd., the non-banking financial company (NBFC) subsidiary of Greaves Cotton Ltd., has introduced “evfin,” an innovative financial platform aimed at transforming electric vehicle (EV) financing and beyond.
According to the Economic Survey 2023, the automotive industry plays a pivotal role in the transition to green energy. The survey predicts an impressive compound annual growth rate (CAGR) of 49 percent for the domestic EV market from 2022 to 2030, with an estimated annual sales volume of one crore units by 2030.
To accelerate the adoption of electric vehicles and facilitate the transition, it is crucial to address the entire lifecycle of EV usage for consumers. “evfin” offers a range of innovative experiences, ensuring an enhanced EV journey throughout the ownership lifecycle by providing accessible and cost-effective financing options.
Nagesh Basavanahalli, Vice Chairman of Greaves Cotton Ltd., stated, “Greaves Cotton Limited is committed to creating a comprehensive ecosystem for diverse last-mile mobility. We are pleased to announce the launch of ‘evfin,’ our sustainable financing platform, reinforcing our dedication to sustainability on World Environment Day.”