Anglian Omega Group's new EV financing Arm plans to invest Rs 250 crore by 2024

by Autocar Pro News Desk , 12 Oct 2021


Image for representational purpose only.

Anglian Omega Group has launched a new electric vehicle finance subsidiary christened – Anglian Finvest. The company says this will allow Omega Seiki Mobility (Group Company) customers to avail finance with Anglian Finvest, where it has already dispersed Rs 10 crore worth of loans.

Anglian Finvest loan facility will be available across India and it aims to provide attractive finance schemes which will include customised products and deliver financial flexibility.

Uday Narang, chairman, Anglian Omega Group said “Anglian Finvest is India’s first and only electric vehicle financing company. Lack of Institutions providing electric vehicles financing makes the process frustrating and tiresome for the customer, hence we thought of launching Anglian Finvest. The company will enhance the customer experience and journey while financing OSM vehicles. For the initial phase, we are only financing Omega Seiki Mobility vehicles, but in the long term we plan to offer loans to other electric vehicle companies. Anglian Omega group would be investing Rs 250 crore in the coming 3 years, to help bolster this EV revolution. Providing easy financing options is sure to attract customers.”

At present, Anglian Finvest is a bootstrapped financing company and it plans to add more financiers and structured finance products, in future enhancements.