Mufin Green secures USD 18 million loan for EV financing

Mufin Green has secured an $18 million loan from the US Development Finance Agency to support EV financing.

New Delhi - Mufin Green Finance Ltd., a finance service company, has secured an $18 million loan from the U.S. Development Finance Agency to support electric vehicle (EV) financing. The company offers financial assistance for a variety of EV-related products, including two-wheelers, three-wheelers, four-wheelers, fast chargers, and swappable batteries.

This strategic partnership will enable Mufin Green to expand and strengthen its efforts in providing comprehensive financing solutions for the electric vehicle (EV) sector. The company’s initiative not only aims to promote sustainable transportation solutions but also contributes to the overall growth of the EV ecosystem, fostering an environmentally-friendly future and reducing the reliance on traditional fossil fuel-powered vehicles.

Mufin Green will be support the growing demand for electric mobility by offering financial assistance for a broad spectrum of EV-related products. These products include electric two-wheelers, three-wheelers, and four-wheelers, along with critical infrastructure like fast chargers and swappable battery systems, which are essential to the widespread adoption of EVs.

Mr. Kapil Garg, Founder and CEO of Mufin Green, said, "Funding would help them expand our range of financial solutions for everyone involved in the EV ecosystem.The company provides financial support for a wide range of EV-related products, including two-wheelers, three-wheelers, four-wheelers, fast chargers, and swappable batteries. We are now expanding our portfolio to include solar financing, which will allow us to support the entire solar value chain OEMs, distributors, installers, and end users similar to how we’ve helped drive the adoption of electric vehicles."