MIFL introduces commercial EV Financing for Fleets

MIFL introduces a financing program for commercial EV fleet operators, offering flexible terms to accelerate green mobility in India.

Kolkata- Mangalam Industrial Finance Ltd. (MIFL), a Non-Banking Financial Company, has launched a comprehensive financing program aimed at supporting electric vehicle (EV) fleet operators across India. This initiative represents a major step forward in commercial EV financing and aligns with the government’s vision for sustainable transportation.

The program covers a wide range of commercial electric vehicles, including two-wheelers, three-wheelers, taxis, delivery vehicles, trucks, and buses. By offering tailored financing solutions, MIFL seeks to address the rising demand for green mobility in the commercial transport sector and provide fleet operators with the capital needed to transition to EVs.

Mr. Venkata Ramana Revuru, Managing Director and Chairman of MIFL. “The commercial transport industry is at a pivotal moment in its shift toward sustainability. Our financing solutions are designed to meet the specific needs of fleet operators adopting electric vehicles while contributing to the broader goal of reducing emissions in India’s transportation sector.”

With competitive interest rates and flexible repayment terms, the program aims to make EV adoption more accessible and financially viable for businesses. MIFL has also established a dedicated support team to assist fleet operators throughout the financing process, ensuring a smooth transition to electric mobility.

This initiative comes at a time of rapid growth in India’s EV market, driven by government policies and increasing awareness of environmental sustainability. By easing financial barriers, MIFL’s program is expected to accelerate commercial EV adoption, particularly among fleet operators who have faced challenges in securing funding for electric vehicle transitions.