Revfin, the digital lending platform for sustainable mobility, has announced a collaboration with Kalyani Powertrain Ltd (KPTL), the electric mobility arm of Bharat Forge Ltd, and Bluwheelz, a provider of sustainable logistical solutions. Together, they aim to introduce retrofitted electric trucks to the Indian logistics sector. This initiative includes innovative financial products designed to support the 100% conversion of truck fleets over the next five years, leveraging government schemes and partnerships with OEMs and fleet operators.
KPTL has successfully homologated retrofitted electric trucks in the 10-16T GVW category for the N3 Goods Carrier segment, a first in India. These trucks will serve various sectors, including FMCG, e-commerce, cement, steel, and perishable goods, enhancing the availability of 'Made in India' solutions for the global automotive market.
Retrofitting electric vehicles (EVs) is crucial for sustainable urban transport, extending the lifespan of old vehicles by up to seven years and helping them avoid scrappage. The initiative highlights the importance of affordable financing from financial and climate-focused institutions, along with supportive schemes and incentives for carbon credits to facilitate broader EV adoption.
Sameer Aggarwal, CEO and Founder of Revfin, said, retrofitting is key to achieving decarbonisation and net-zero goals. By financing retrofitted vehicles, the company supports broader sustainability goals, making EV adoption more accessible while fostering a greener future.
CP Sethi, CEO and Co-founder of Bluwheelz, said the company is deploying these trucks across various sectors to fulfill green and clean mobility goals.
Amit Kalyani, Vice-Chairman & Joint Managing Director of Bharat Forge Ltd, added that these retrofitted trucks can result in a 24% reduction in the Total Cost of Ownership compared to new electric models.
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