Ecofy Finance Partners with Motovolt Mobility for Electric Two-Wheeler Financing

Under the arrangement, Ecofy will serve as the primary financing partner for Motovolt's electric two-wheeler range, including the newly launched MVS7 e-scooter that features battery swapping functionality supported by Indofast.

The partnership targets individual buyers as well as logistics service providers, fleet operators, and last-mile delivery companies.

The collaboration aims to address financing barriers that the companies identify as limiting electric vehicle adoption in both consumer and business segments. The partnership focuses particularly on serving delivery platforms, e-commerce supply chains, and shared mobility operators seeking to transition to electric fleets.

"Our partnership with Motovolt Mobility is a big step forward in making green financing more accessible across India," said Kailash Rathi, Head of Partnerships and Co-lending at Ecofy.

The company positions the arrangement as supporting both individual EV buyers and businesses looking to reduce operating costs through electric vehicle adoption.

Tushar Choudhary, Founder and CEO of Motovolt Mobility, emphasized the role of accessible financing in electric vehicle adoption. "True EV adoption in India will depend not only on the product, but also on how accessible it is to the people who need it most," Choudhary stated.

The partnership plans to finance a significant volume of electric two-wheelers over the next year, with a substantial portion dedicated to fleet and institutional buyers. The companies will use data-driven credit assessment models and integrate financing workflows at the dealership level to streamline the customer experience.

Ecofy Finance, backed by Eversource Capital, describes itself as India's green-only non-banking financial company. The firm provides loans for electric vehicles, rooftop solar installations, and small to medium enterprises focused on environmental sustainability.

Motovolt Mobility, founded in 2019 and headquartered in Kolkata, manufactures electric cycles, e-mopeds, and scooters designed for Indian market conditions. The company reports having delivered over 32,000 vehicles that have collectively traveled more than 65 million kilometers.

According to Motovolt's data, its vehicles have saved approximately 1.7 million liters of fuel and offset 3.71 million kilograms of carbon emissions since the company's inception. The manufacturer offers electric two-wheelers ranging from basic e-cycles to high-speed multi-utility scooters.

The partnership comes as India's logistics and gig economy sectors experience rapid growth, creating demand for cost-effective commercial transportation solutions. Electric two-wheelers are increasingly viewed as viable alternatives to conventional vehicles for urban delivery and transportation services, particularly given concerns about fuel costs and environmental regulations.

Both companies see the collaboration as supporting India's broader transition to sustainable transportation while addressing practical financing challenges that have traditionally limited electric vehicle adoption among both individual consumers and commercial operators.