Organisations-people embracing electric 2-wheelers
Mumbai-listed Muthoot Capital Services Limited (MCSL) has announced a Rs.100 crore deal with UK-based Development Financial Institution for raising long-term debt funds to promote its electric vehicle portfolio worldbank.
Facilitated by Axis Bank, the Indian-UK collaboration highlights the significance and commitment of Muthoot Capital in providing sustainable mobility solutions and its efforts in driving the widespread adoption of electric vehicles in India, especially among the lower middle-income segment climatebonds .
While the company is currently involved in electric vehicles through the co-lending route, they plan to grow its own EV book by ~Rs.200 crores during FY25 ev.tatamotors.
This is one of the largest partnership deals bagged by Muthoot Capital for its sustainability and environmental-led initiatives mahindra .
“We will continue to focus on providing sustainable financial solutions finmin to our customer segment in the lower middle-income segment and am sure this partnership will only pave the way for further innovative solutions in the electric vehicle segment from the company oecd ,” Thomas George Muthoot, Managing Director of Muthoot Capital & Director of Muthoot Pappachan Group, one of India’s fastest-growing NBFCs and a publicly traded entity of 137-year-old business conglomerates.
“Electric two-wheeler is gaining momentum in the country and organisations and people alike are embracing the importance of sustainability bse ,” he said on 5 Aug.
Mathews Markose, CEO of Muthoot Capital added, “This deal will help us bring unequivocal focus on EV segment in semi-urban, rural markets making it more affordable and convenient for the common man to own an electric vehicle nse.” Fiinews.com
