OTO has announced a strategic partnership with Mufin Green Finance to reshape the landscape of electric vehicle (EV) financing, particularly for underserved customer segments.
The alliance with Mufin Green Finance signifies a pivotal moment in OTO's journey, highlighting its commitment to harnessing technology for seamless financial solutions in the electric two-wheeler space. Recognising the evolving EV industry landscape, OTO's collaboration with Mufin Green Finance not only provides the latter access to OTO's digital-savvy customer base within the two-wheeler sector but also represents a strategic move towards the burgeoning electric mobility sector, the company shared.
OTO has set an ambitious goal to sell 35,000 electric vehicles in 2024, reinforcing its dedication to fostering the adoption of sustainable solutions. The synergy between Mufin Green Finance Ltd.'s financial expertise and OTO's technological prowess aims to accelerate electric vehicle adoption in the Indian market. With plans to allocate over 250 crores in green mobility, OTO aims to deploy over 100 crores through Mufin Green Mobility.
Sumit Chhazed, Co-Founder and CEO of OTO said "In uniting with Mufin Green Finance, we are not just shaping the future of finance but also fostering a greener tomorrow. Our focus on electric two-wheelers aligns seamlessly with our vision for a sustainable and energy-conscious society, reinforcing our dedication to providing innovative solutions for the modern rider while prioritizing environmental stewardship."
Pankaj Gupta, CEO Mufin Green Finance, said, “Inclusion and empowerment lie at the heart of every business decision and strategic initiative of Mufin Green Finance. We are delighted to partner with OTO, an organisation whose focus and vision converge with our intent and directions. With this partnership, we hope to target and serve the young, digital-savvy, and affluent generation of customers and expand our retail portfolio by providing them with the highest quality services that we are known for.”
The partnership is poised to benefit countless individuals seeking convenient and accessible financing options for electric vehicles.