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Ecofy, JSW MG Partner To Finance EVs

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Eversource Capital-backed NBFC Ecofy, India’s climate impact fund, partners with JSW MG Motor India and offers financing and leasing solutions for up to 10,000 over the next three years to accelerate the growth of electric vehicles.

Eversource Capital-backed NBFC Ecofy partners with JSW MG Motors India to finance and lease up to 10,000 electric vehicles over the next three years. This collaboration aligns with the Central Government’s commitment to combating climate change through initiatives like the National Action Plan on Climate Change (NAPCC) and the FAME-III programme, which offers substantial financial incentives for electric vehicles. Ecofy aims to reduce carbon footprints and restore planetary balance by providing loan options and leasing arrangements for retail customers and B2B operators for JSW MG Motor India’s current and future electric vehicles.

According to JSW MG Motor India’s Chief Growth Officer, Gaurav Gupta, the partnership with Ecofy is a testament to their commitment to offering innovative EV ownership solutions that are accessible to all, thereby augmenting the adoption of electric vehicles in India. By collaborating with industry specialists, the company is making EV ownership more accessible and affordable to a broader audience. 

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Ecofy Co-founder, MD & CEO Rajashree Nambiar highlights that by combining their expertise in finance with JSW MG’s cutting-edge electric vehicle technology, they aim to make EVs accessible to a broader audience. This empowers individuals and businesses to embrace a greener future without compromising convenience or affordability, ensuring that no one is left behind in the transition to sustainable mobility.

JSW MG Motor India continues to strengthen its presence in India’s electric vehicle market through strategic partnerships aimed at enhancing affordability and accessibility. Recently, the company joined forces with Tata Capital to provide comprehensive financing solutions to its dealers, demonstrating its commitment to offering affordable EV options. 

Teaming up with Ecofy and Autovert further underscores their commitment to bridging the affordability gap and accelerating EV adoption. Leveraging a robust dealership network, JSW MG Motor India ensures customers have access to attractive financing options, supported by seamless digital processes for hassle-free ownership. 

Ecofy, backed by Eversource Capital, provides pivotal financial support for green initiatives, including EVs and solar energy, while Autovert specializes in innovative green product financing. With a focus on sustainability, JSW MG Motor India is shaping a smart and sustainable automotive ecosystem in India, setting benchmarks with innovative offerings like the MG Hector and MG ZS EV, inspiring the industry with their forward-thinking approach.

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