The partnership, announced on Monday, aims to make electric vehicles more accessible through organized financing options.
26 Aug 2025 | 4075 Views | By Anurag Chaturvedi
Electric vehicle manufacturer Kinetic Green Energy and Power Solutions Limited has entered into a Memorandum of Understanding with IIFL Samasta Finance Limited to provide financing solutions for electric two and three-wheelers across urban and rural markets in India.
The partnership, announced on Monday, aims to make electric vehicles more ...
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Electric vehicle manufacturer Kinetic Green Energy and Power Solutions Limited has entered into a Memorandum of Understanding with IIFL Samasta Finance Limited to provide financing solutions for electric two and three-wheelers across urban and rural markets in India.
The partnership, announced on Monday, aims to make electric vehicles more accessible through organized financing options. IIFL Samasta Finance, a non-banking financial company and microfinance institution, will serve as an accredited financier for Kinetic Green's complete product range.
The program is scheduled to begin in September 2025, coinciding with India's festive season when vehicle demand typically increases. IIFL Samasta's financing network spans 370 branches across 13 states: Bihar, Gujarat, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Puducherry, Rajasthan, Tamil Nadu, Uttar Pradesh, and West Bengal.
The collaboration includes targeted outreach to over 200,000 pre-qualified IIFL Samasta customers, along with joint marketing initiatives and co-branded promotional campaigns to increase visibility in the electric mobility sector.
Kinetic Green operates a nationwide network of over 600 dealers and reports having sold more than 150,000 electric vehicles. The company's product lineup includes the E-Luna electric two-wheeler for multi-utility purposes, the E-Zulu electric scooter, and the Safar series of electric three-wheelers for cargo and passenger transport.
IIFL Samasta Finance, established in March 2008, focuses on providing financial solutions to women in rural and semi-urban areas across 22 states in India. The company operates as part of the IIFL Group and specializes in microfinance services.
Dr. Sulajja Firodia Motwani, Founder and CEO of Kinetic Green, described the partnership as an effort to accelerate clean mobility adoption by combining the company's electric vehicles with IIFL Samasta's financing platform, particularly targeting semi-urban and rural markets.
Mr. Venkatesh N, Managing Director of IIFL Samasta Finance Limited, characterized the partnership as aligning with the company's mission to serve underserved communities through inclusive financial solutions, while supporting the promotion of green transportation and economic empowerment.
The partnership comes as India continues to push for increased electric vehicle adoption as part of its broader environmental and transportation policy goals. By addressing financing barriers, particularly in semi-urban and rural markets, the collaboration seeks to expand the customer base for electric vehicles beyond traditional urban markets.
Kinetic Green has previously secured $25 million in Series A funding from UK-based Greater Pacific Capital and is reportedly seeking an additional $30 million in funding. The company has also formed a joint venture with Tonino Lamborghini of Italy to develop electric golf carts and lifestyle carts for global markets.