With the increasing adoption of electric vehicles (EVs) in India, the financial landscape supporting this emerging technology has evolved significantly in recent years. Banks, non-banking financial companies (NBFCs), and fintech startups are now collaborating to provide various financing options, reducing the initial costs associated with purchasing EVs.

Notably, there has been a surge in collaborations between EV original equipment manufacturers (OEMs) and lenders to improve access to loans for EV buyers. For instance, Ather Energy, a prominent electric scooter manufacturer, has recently partnered with Bajaj Finance, IDFC First, and Hero FinCorp to offer 60-month electric two-wheeler loans to EV buyers.