Follow us
F MEC International Financial Services and Finayo partner to disburse Rs 25 crore for EV financing
The disbursement, aimed at bolstering the EV ecosystem, will focus on expanding the EV network and accelerating sustainable mobility and financing in segments like 2-wheelers, 3-wheelers, and E-rickshaws.
By Autocar Professional Bureau
6000 Views
F MEC International Financial Services Limited, a non-banking financial institution, has partnered with Finayo, to disburse Rs 25 crore in the next 12-18 month period, for bolstering EV penetration in the country.
Through this collaboration, F MEC and Finayo, an AI-powered SaaS technology platform for green mobility lending, aim to mitigate the financial bottlenecks in EV financing.
The disbursement will focus on expanding the EV network and accelerating sustainable mobility and financing in segments like 2-wheelers, 3-wheelers, and E-rickshaws.
A sum of Rs 10 crore and Rs 15-20 crore has been allocated for the first and second years respectively, while Rs 5 crore been earmarked for trade financing in the initial 12 months.
The disbursed funds will also contribute to reducing CO2 emissions by financing approximately 500 to 700 EV vehicles, including 2-wheelers and E-rickshaws, noted the press release.
RELATED ARTICLES
Ajax Engineering FY26 PAT Falls 13%; Revenue Rises 1%
Arunima Pal
19 May 2026
The company managed industry headwinds arising from slower infrastructure spending and higher production costs linked to...
Michelin Opens New Tyre Store in Jodhpur in Partnership with Sushil Tyres
Angitha Suresh
19 May 2026
The 1,800 sq. ft. facility on Chopasani Road offers passenger car tyres alongside wheel alignment and balancing services...
AIDA Welcomes BIS Standards for E22–E30 Fuels
Shruti Shiraguppi
19 May 2026
BIS fuel specs mark a breakthrough, easing surplus pressures while paving the way for India’s flex‑fuel future, says AID...
