Mangalam Industrial Finance Ltd. (MIFL), a well-known Non-Banking Financial Company (NBFC), has announced the launch of a new Fleet Financing program aimed at supporting India’s shift toward electric mobility. The initiative is designed to help fleet operators transition to electric vehicles (EVs) as part of the country’s effort to reduce carbon emissions and promote sustainable transportation.
The Fleet Financing program will focus on commercial EVs, including electric buses, trucks, delivery vehicles, taxis, and two- and three-wheelers. MIFL plans to offer financial solutions that cater to the specific needs of fleet operators. With competitive interest rates and flexible repayment terms, the program aims to make EV adoption easier and more affordable.
This move aligns with the Indian government’s broader environmental goals, such as reducing pollution and decreasing reliance on fossil fuels. MIFL’s initiative supports these objectives by promoting electric mobility, which is expected to play a major role in creating a cleaner, more sustainable transportation network across the country.
Mr. Venkata Ramana Revuru, Managing Director and Chairman of MIFL, expressed his commitment to the green revolution. “At MIFL, we aim to be a key player in driving sustainable investments in India. The growth of electric mobility presents a significant opportunity, and our Fleet Financing initiative will help businesses make the transition to EVs, reduce emissions, and contribute to India’s vision of a greener future,” he said.
The financing solutions offered will be tailored to individual fleet operators’ needs. MIFL will provide long-term repayment plans, competitive interest rates, and a streamlined documentation process. Expert support will also be available throughout the transition to electric fleets, ensuring a smooth and efficient process for businesses.
MIFL is recognized for offering innovative financing solutions across various sectors. With a strong focus on clean energy and electric mobility, the company is dedicated to contributing to India’s sustainable future through forward-thinking financial products.
