Mangalam Industrial Finance Ltd (MIFL) has announced a new Fleet Financing initiative to support the adoption of electric vehicles (EVs) in India. The initiative aligns with the Government of India’s push towards sustainable mobility and aims to provide specialised financial support to fleet operators transitioning to electric transport. By funding a wide range of commercial EVs, including buses, trucks, taxis, delivery vehicles, and three- and two-wheelers, MIFL seeks to contribute to a cleaner and more eco-friendly transportation sector.
With the demand for electric vehicles rising, particularly in commercial transport, MIFL’s financing solutions will offer fleet operators competitive interest rates, flexible repayment plans, and simplified documentation processes. This initiative is expected to make electric mobility more accessible and financially viable for businesses, reducing dependence on fossil fuels and lowering emissions across the country.
MIFL’s commitment to green mobility extends beyond financial assistance. The company’s team of experts will provide guidance to fleet operators, ensuring smooth execution of EV financing projects. By supporting businesses in their transition to electric fleets, MIFL is actively contributing to India’s efforts to combat air pollution and promote cleaner energy alternatives.
Venkata Ramana Revuru, Managing Director & Chairman, MIFL, stated that the Fleet Financing initiative is a strategic step towards reducing emissions while empowering businesses to embrace electric mobility. He highlighted MIFL’s role in supporting India’s green revolution and the transition towards a sustainable transport ecosystem.