Revfin And Maharashtra Govt Aim To Finance 2M EVs Under PM Solar2EV Initiative

- Advertisement -
- Advertisement -

The Solar2EV Project, a joint initiative by India’s Ministry of Social Justice & Empowerment and the Maharashtra Government, aims to make sustainable energy and transportation accessible to all.

To accelerate the adoption of solar rooftops and electric vehicles (EVs) in Maharashtra, Revfin, a digital lending service provider, has partnered with the Government of India’s Social Justice Department for the PM Solar2EV Initiative. This collaboration aims to offer digital lending services and enhance financial inclusion, with Revfin’s participation expected to fast-track its goal of financing 2 million electric vehicles nationwide by 2029.

Sameer Agarwal, CEO and founder of Revfin, expressed his commitment to leveraging digital lending expertise to promote sustainable mobility and financial empowerment. He emphasized that the partnership with the Maharashtra Government’s Social Justice Department reflects Revfin’s dedication to inclusive growth and positive societal impact. Agarwal stated that by providing accessible financing solutions, Revfin aims to expedite the adoption of electric vehicles and contribute to India’s transition towards a greener, more sustainable future.

- Advertisement -

The Solar2EV project, initiated by the Ministry of Social Justice & Empowerment, Government of India, in collaboration with the Maharashtra Government, aims to make sustainable energy and transportation solutions accessible to all. The initiative allows individuals to access solar energy and electric vehicles at just 30% of the vehicle cost, with 70% funding support through state schemes. The project has attracted collaboration from industry stakeholders and includes a dedicated task force focused on promoting socially sustainable products through skill development programs.

Revfin recently completed its Series B funding round, raising USD 14 million (Rs 115 crore). This funding will further bolster Revfin’s position in India’s EV financing landscape, enabling it to continue supporting essential components such as charging stations and batteries while promoting sustainable mobility and financial inclusion.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

“Automotive And Medical Will Adopt More Printed Electronics”

0
The automotive industry is experiencing a revolution. But is this revolution limited to the evolution of powertrains? Salil Musale, MD, Naxona (Astarc Group), chats...

Infineon And Amkor Forge Partnership To Boost Semiconductor Manufacturing In Europe

0
With operations set to commence in the first half of 2025, this alliance represents a significant stride in advancing the region's semiconductor manufacturing resilience...

“Alternatives To All Chinese Electronics Components Exist”

0
What is the difference between outsourcing electronics manufacturing to third parties and sourcing electronics built from scratch from third parties? Ishwar Kumhar, CEO of...

Buzz

Ather Energy Eyes Expansion Into Motorcycle Market

0
The new motorcycle from Ather is rumoured to be more powerful than its 450 series e-scooters. Recently, officials from Ather revealed that the company is...

Alfa Romeo Unveils Its First Electric Vehicle

0
Italian automaker unveils the Milano urban SUV, the successor to the Giulietta, offering a choice between mild-hybrid petrol or electric power. Alfa Romeo has unveiled...

Zypp Electric Makes Changes In Its Leadership With 4 New Appointments

0
Ricky Singh has been named Senior Vice President of E2W Operations, Sudhir Sharma as Senior Vice President of Finance, and Sudipto Shome as Vice...

Important Sectors

“Automotive And Medical Will Adopt More Printed Electronics”

0
The automotive industry is experiencing a revolution. But is this revolution limited to the evolution of powertrains? Salil Musale, MD, Naxona (Astarc Group), chats...

Ather Energy Eyes Expansion Into Motorcycle Market

0
The new motorcycle from Ather is rumoured to be more powerful than its 450 series e-scooters. Recently, officials from Ather revealed that the company is...

Alfa Romeo Unveils Its First Electric Vehicle

0
Italian automaker unveils the Milano urban SUV, the successor to the Giulietta, offering a choice between mild-hybrid petrol or electric power. Alfa Romeo has unveiled...

Zypp Electric Makes Changes In Its Leadership With 4 New Appointments

0
Ricky Singh has been named Senior Vice President of E2W Operations, Sudhir Sharma as Senior Vice President of Finance, and Sudipto Shome as Vice...

Tresa Motors Launches Version 0.2 Of Its Electric Truck

0
The VO.2 is designed to offer a cost-effective and environmentally friendly logistics solution, boasting a powerful Axial Flux Motor, a quick 20-minute charge time,...

Manufacturing

Tesla Starts Making Cars In Germany For India Exports This Year

0
A Tesla team is set to visit India this month to scout locations for a car manufacturing plant, with an estimated investment of around...
Sona Comstar

Sona Comstar Earns Second PLI Certification For Electric Two-Wheeler Hub Motor

0
In 2021, the government launched a five-year output-linked incentive scheme with a budget of Rs 25,938 crore to enhance local production of advanced automotive...

Valeo Launches ADAS Component Plant In Korea

0
The Valeo Daegu plant, now producing parking assistant sensors, is set to be a major Asian hub for autonomous driving sensors, gearing up for...

Indian Oil & Panasonic Energy To Make Li-ion Cells In India

0
The companies have signed a term sheet to establish a framework for a joint venture to manufacture cylindrical lithium-ion cells in India, anticipating growing...

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...