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Moving ahead in the day, another spotlight session featured Mr. Sameer Agarwal, Founder of Redfin and President of MPI, in conversation with Manoj Kohli, former India Head of SoftBank and CEO of Airtel, discussing EV product quality, financing challenges, non performing assets, government policy and the future of the Evie landscape. Financing is perhaps the most significant impediment to growth of. Electric vehicles. And I'm not sure why that is the case. But any views from you on how we can really enable financing of electric vehicles in India and what, what steps need to be taken? No financing is important, very important catalyst. I mean look at any industry, look at look at trucks, look at cars, look at scooters, look at even mobile phones, smartphones, all are getting financed. So without financing, I don't think any industry will grow. So therefore you're, I think all of you are in a very important role for the future growth. And I feel that you deserve to get your funds at a not high liquidity only, but also at a reasonable cost. The cost of funding has to be lower than normal because you are helping a global sustainability. So I have always urged banks. I've met banks in Europe, in US, in Japan. And I've told all of them that if you don't go out of the way to fund the EV sector or the renewable energy sector with lower cost. This is not good. And what's the response? No, they're thinking actually the first phase of moving the liquidity from IC engine. To EV and moving the liquidity from oil and gas and coal to solar and wind has happened now. Now luckily Evie and renewable energy have huge liquidity, so funding is not an issue. The cost of funding still is same, which actually should change. Now you, you deserve to get funding at a lower cost because you are helping the world, You're helping the future generation. Another panel discussion moderated by Ashima Ghate, managing director. RMI featured experts such as Anshuman Singh, CEO Future, Evie, Ashok Mittal, founder and CEO Press Clones, Gaurav Rathore, co-founder, Evies, Pavan Kakar, director Yatri, Pritesh Talvar, President Electrics, Rajesh Sehgal Director Saarthi, and Saurav Kumar, founder and CEO Euler Motor discussing. Manufacturing and financing getting the linkages right. Higher financing rates sometime creates that I would say a negative pressure to what that transition. So if your interest rates and your conversation around FLDS conversation around law school, these are very, very important conversation that manufacturer and financer needs to solve this together because at the end of the day, if if the cost of the people care about the down payment. People care about the tenor and the EMI, right? And if the EMI far exceeds the revenue potential and the saving that is going to get for your share is going to get the transition slots. Finance policy, Assan Ajay policy as you, Nikki. Julie Keji, I've got down payment. Come here. Rate of interest be told us a competitive one. Quel mila che grotlani. Kalibata osito growth nyathi whose practical with karna Padega. Give me a wonky healthcare chavo rate of interest chamkar ke Chai down payment car level kamkar K or chair tenure Blake motive. The Joe Arroyo like. AI estou falando que pode se exige tamb��m o que o tunai classic. You know, taking faith in new business models rather than just. So right now, for example, battery swapping is something that is gaining ground. So can we look at better financing of the vehicles that are sown all battery swapping or even we've launched a subscription model so where the vehicle can be sold, but the battery can be taken by the consumer on subscription, on a monthly subscription. So can we get better financing on that those models? So essentially 2 parts, 1 is geographic and secondly, supporting the. Manufacturers with when they come up with the new business model, the financials should be able to help especially the new age financing firms should you know look at them those models with an open mind and being the front funds to support to the consumers to adopt those models. Financial says yay Gujari shaky quality finance with Yande. Hi Erika Guzarish rathi ameriki Jo Surat Mein FLG subvention file charge or even insurance card. Payback is paid hodas APK arlingto dealer uska faida nai Utah taiga dealer both manga based on. With that quality finance logo. Chickamauga toward. O chargez Andrew, a tia person go milagrena. Was Kamkwamba changed? So that's where, you know, aggregators like us come in between and bring them onto a platform that gets financed by many of our players, financing players here. So it is very important to enable the ecosystem where. Someone is not just looking at finance from the end user's perspective, he's not looking to be in the delivery space for three years or five years. He might not be interested in buying the vehicle, but he might want to get the benefit of the EV, the operating cost benefit for his savings. So that is where you know smaller tenures that and platform can enable is important and comes into play. Prefer to finance the OEM or the product which is known where the feedback of market is good, that the product is good. So if you really go by entire discussion which earlier we had, which Rohit has spoken, Samir has spoken is we look at whether the product is good, if the product is good and which will run for the tenure for which we are say financing, then rest all is secondary in my view. So our idea is that can we take risk on this product because we are anyway taking risk on the borrower. Adding up to insights of others. A special presentation was made by Gold Partner Read on Lithium Industries co-founder Sachin Agarwal to build a way in which we can scale Evie adoption in India. So we worked on developing several batteries. We have been working in different segments. We were able to develop batteries for two Wheelers wherein we got it approved 72 Volt 43. For two Wheeler, 60 Volt, 52 H for two Wheelers, we have been working with companies like Battery in Jaipur. We have worked with companies like Shema here in Gurgaon and we have been working with companies like Errors in South India. So these are some companies for two Wheelers and three Wheelers we have worked for. And this is an interesting thing that we developed a battery pack for drones where where we were able to develop a battery pack with BMS. So very few companies have developed any battery pack for BMS with the BMS. The third panel discussion of the afternoon focused on. Why is Mid Mile a different segment and delving deeper into the insights, the panel featured specialists such as Anil Syal, president of Safe Express, Mukul Vijay Singh, CEO of Adwin Par Technology, Charan Preet Sathi, cofounder and CEO, Blue Wheels, and Sachin Agarwal, co-founder of Red on Lithium Industries, moderated by Ayush Agarwal, independent director of Akasa Finance. Do the comparable. You know payload capacity management in these medium commercial vehicles which are current CVS and the the conventional ICE engine vehicles which are the heavy vehicles, the cost per ton per kilometer does not work out suitable. This field is totally vacant. Means there is a huge opportunity for the companies who are making. Vehicles for the mid mile because the end mill is covered. As I think in my view is called a last mile is covered but mid mile is totally vacant. Everybody can focus it. The products that come from a manufacturer, it goes first to the warehouses or C&F and then from there it is transported to the dealer. And this happens very frequently and because to keep dealers investment in control this has to be transported again and again say weekly or maybe bi monthly or something. So there this mid mile plays a very important role good amount of. Scope for evasion but mine because one there is a predictable revenue in mid mile unlike last mile where you have ever changing dynamics of the industry because of the peaks in terms of ecommerce and quick commerce. I think mid mile segment is predominantly you know covering the 85% of India which is you know the brick and mortar India, the conventional India the the real GDP of India lies there. A special session shed light on the potential of transforming. The tourism industry in Jammu and Kashmir through the adoption of evies underscoring the regional opportunities in sustainable mobility. Livelihood zinda hai kabhi hum kuch karpa Inge. Koi bikam chaya business karnaa kisi field, Yamakawa. Yeah, Total hamare paas dabija. Currently JK Hamare PAS Srinagar, Silique, Jumuah, Badgam, Udhampur, Baramulla district be charging stations for electric vehicles. Ministry of Rd. Transport and Highways. Permission to conclude the afternoon, Marie McNamara, manager at RMI and knowledge partner of the summit gave a special presentation and global experiences discussing synergies, experiences and Co dependencies and de risking electric vehicle finance. So this is really where us as an organization and a think tank wanted deep dive in is how can we leverage existing best practices which is already taking place in India with. AIS 156, which is a mouthful, but it is basically battery health and performance standards. How can we leverage the framework that already exists there? The EU has enacted a novel battery regulation in their battery passport, where they're tracking the battery through its value chain, and ultimately access to information like this can enable the end consumers to have confidence. In procuring secondary value because they themselves can vet that where the battery has been throughout its life cycle. Bringing together key players across the EV ecosystem including financiers, OEM founders and CEO's, fleet aggregators, insurance companies, bureaucrats and policymakers, the summit facilitated meaningful cross sector collaboration. The summit tackled critical financial challenges, explored groundbreaking. Solutions and develop strategies to support the broader Evie ecosystem.
🚎GreenCell Mobility Secures INR 307 Cr for Electric Bus Project in Uttar Pradesh.
🔋 Overview:
GreenCell Mobility, a startup focused on shared electric mobility, has secured a significant green financing facility of INR 307 Cr (approximately $36.7 Mn) from Sumitomo Mitsui Banking Corporation (SMBC) for its ambitious electric bus project in Uttar Pradesh (UP).
🔑 Key Details:
- Project Scope: The funding will support the deployment of 350 electric buses across 8 cities in Uttar Pradesh, enhancing sustainable mass transit solutions in the region.
- Environmental Impact: The initiative is projected to reduce approximately 235,000 tonnes of CO2 emissions throughout the lifespan of the contract, contributing significantly to environmental sustainability.
- Company Vision: Devndra Chawla, CEO of GreenCell Mobility, highlighted the partnership with SMBC as a testament to the company's commitment to sustainable mobility solutions.
🌱 Sustainable Mobility:
- Operational Strategy: Founded in 2019, GreenCell Mobility operates by acquiring electric buses through contract manufacturing and deploying them for both inter-city and intra-city travel.
- Financial Performance: Despite a substantial increase in revenue in FY23, the company observed a decrease in net profit compared to the previous fiscal year.
- Previous Investments: Prior funding includes a INR 3,000 Cr debt from REC Ltd for expanding its electric bus fleet and infrastructure, and a $55 Mn deal with ADB, AIIB, and CTF in 2022.
📈 Industry Context:
- Government Support: The Indian government's recent INR 500 Cr scheme to promote electric mobility, along with an extension of the FAME-II program, underscores strong institutional backing for EV initiatives.
- Market Growth: The EV sector in India is experiencing significant investor interest, driven by its potential to offer sustainable alternatives to fossil fuels and reduce carbon emissions.
🔮 Future Outlook:
With strategic funding and governmental support, GreenCell Mobility is poised to play a pivotal role in transforming urban transportation in India by increasing the accessibility and affordability of electric buses, thus driving forward the nation's green mobility agenda.
📌 Conclusion:
The collaboration between GreenCell Mobility and SMBC marks a critical step towards accelerating India's transition to sustainable transportation solutions, aligning with broader environmental goals and fostering innovation in the electric vehicle industry.
GreenCell Mobility #GreenCellMobility#ElectricVehicles#SustainableTransport#GreenFinance#SMBC#UttarPradesh#EVs#Environment#StartUpNews#BusinessNews#MicroShots#NewsUpdates
💡 𝐌𝐮𝐟𝐢𝐧 𝐆𝐫𝐞𝐞𝐧 𝐅𝐢𝐧𝐚𝐧𝐜𝐞: 𝐄𝐦𝐩𝐨𝐰𝐞𝐫𝐢𝐧𝐠 𝐄𝐕 𝐀𝐝𝐨𝐩𝐭𝐢𝐨𝐧 𝐰𝐢𝐭𝐡 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐧𝐠
𝐌𝐮𝐟𝐢𝐧 𝐆𝐫𝐞𝐞𝐧 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 has announced a significant milestone with its latest initiative to drive EV adoption across India. By bridging the gap between affordability and accessibility, Mufin is enabling a greener, 𝐜𝐥𝐞𝐚𝐧𝐞𝐫 𝐟𝐮𝐭𝐮𝐫𝐞 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝐬𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 𝐭𝐚𝐢𝐥𝐨𝐫𝐞𝐝 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐄𝐕 𝐞𝐜𝐨𝐬𝐲𝐬𝐭𝐞𝐦.
𝐖𝐡𝐚𝐭 𝐝𝐨𝐞𝐬 𝐭𝐡𝐢𝐬 𝐦𝐞𝐚𝐧 𝐟𝐨𝐫 𝐄𝐕 𝐚𝐝𝐨𝐩𝐭𝐢𝐨𝐧?
⚡ 𝐀𝐟𝐟𝐨𝐫𝐝𝐚𝐛𝐥𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐧𝐠: Making EVs accessible to individuals and fleet operators nationwide.
🌱 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐚𝐭 𝐂𝐨𝐫𝐞: Supporting India’s vision of becoming a net-zero economy by 2070.
🤝 𝐂𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐯𝐞 𝐆𝐫𝐨𝐰𝐭𝐡: Partnering with stakeholders to unlock the full potential of the EV market.
Mufin’s initiative underscores the critical role of financial inclusion in accelerating India’s transition to sustainable mobility.
Mufin Green FinanceDhiraj AgrawalAbhishek Kumar#EVNews#evindustry
🌟 Next UPI for India - Embracing the Future, One Step at a Time! 🌟
Came across this inspiring sight of a roadside cobbler shop, illuminating the path of sustainable development. With a solar panel diligently soaking up the sun, it powers up the shop for extended working hours. It’s not just about harnessing energy but embodying resilience and innovation at the grassroots level.
Uninterrupted Power Infrastructure (The next UPI) is not just a concept but a reality unfolding before our eyes. As we marvel at fintech’s strides, let’s gear up for an era where every home in India is not just a consumer but also a contributor to the nation’s energy grid.
The off-grid will be our new normal, marking strides towards self-reliance and sustainability. Every solar panel installed is a step closer to an empowered and energy-efficient India! 💡
🇮🇳 #Sustainability#Innovation#Empowerment
🌟 **Emerging EV Markets in India in 2024: A Game Changer for Sustainable Mobility** 🌟
India's electric vehicle (EV) market is rapidly evolving in 2024, marking a pivotal shift towards sustainable mobility. With the government's ambitious goals and increasing consumer awareness, the EV sector is set to transform the transportation landscape. Here’s why the emerging EV market in India is grabbing headlines:
🔋 **Government Initiatives**: The Indian government’s policies, such as FAME II (Faster Adoption and Manufacturing of Electric Vehicles), are providing substantial subsidies and incentives for both manufacturers and buyers, accelerating EV adoption.
⚡ **Infrastructure Development**: The expansion of charging infrastructure, with thousands of new charging stations being installed across urban and rural areas, is addressing one of the major hurdles for EV adoption.
🚗 **Growing Product Range**: Indian and international automakers are launching an array of EV models, catering to various segments from affordable two-wheelers to high-end electric cars, making EVs accessible to a broader audience.
🌱 **Environmental Impact**: EVs play a critical role in reducing air pollution and dependence on fossil fuels, aligning with India’s commitment to lowering carbon emissions and promoting green energy.
📈 **Economic Opportunities**: The burgeoning EV market is creating new opportunities for startups, creating jobs, and fostering innovation in battery technology, smart charging solutions, and renewable energy integration.
As we navigate through 2024, the synergy between policy support, technological advancements, and consumer enthusiasm is driving India’s EV revolution. It’s an exciting time for stakeholders to contribute to a cleaner, greener future.
Let's embrace the electric revolution and drive towards a sustainable tomorrow! 🚀🔌
#EVIndia2024#SustainableMobility#ElectricVehicles#GreenRevolution#Innovation#CleanEnergy#FutureOfTransport
𝐆𝐫𝐞𝐚𝐯𝐞𝐬 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐏𝐚𝐫𝐭𝐧𝐞𝐫𝐬 𝐰𝐢𝐭𝐡 𝐄𝐪𝐚𝐫𝐨 𝐒𝐮𝐫𝐞𝐭𝐲 𝐭𝐨 𝐄𝐧𝐡𝐚𝐧𝐜𝐞 𝐄𝐕 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐧𝐠 𝐟𝐨𝐫 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐓𝐰𝐨-𝐖𝐡𝐞𝐞𝐥𝐞𝐫𝐬
🚀 𝐆𝐫𝐞𝐚𝐯𝐞𝐬 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 has joined forces with 𝐄𝐐𝐀𝐑𝐎 𝐒𝐮𝐫𝐞𝐭𝐲 to transform electric two-wheeler financing in India.
This 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐩𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩 introduces innovative surety bond-backed financing solutions, addressing key challenges in 𝐄𝐕 𝐨𝐰𝐧𝐞𝐫𝐬𝐡𝐢𝐩 affordability. By ensuring greater credit access and 𝐦𝐢𝐧𝐢𝐦𝐢𝐳𝐢𝐧𝐠 𝐫𝐢𝐬𝐤𝐬 𝐟𝐨𝐫 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐞𝐫𝐬, this initiative empowers more individuals to embrace 𝐬𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞 𝐦𝐨𝐛𝐢𝐥𝐢𝐭𝐲. 🌍💚
Such 𝐜𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧𝐬 not only strengthen consumer confidence but also bolster India's transition to clean energy transportation. With electric two-wheelers at the forefront of India's green revolution, 𝐩𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩𝐬 like this drive meaningful progress for a cleaner, 𝐠𝐫𝐞𝐞𝐧𝐞𝐫 𝐭𝐨𝐦𝐨𝐫𝐫𝐨𝐰.
👉 Read more about this collaboration here: https://lnkd.in/gqvS2czHKomal KaurVikash KhandelwalEqaro Guarantees#evnews#evindustry
Building EV finance NBFC, Presently CBO Electric Vehicle Finance & Retail Loans | Cross sell - Insurance | Collections | Business Set-Up |
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