EKA Mobility and Shriram Green Finance Unite to Accelerate Electric Commercial Vehicles in India
India’s electric mobility sector is gaining a major push with EKA Mobility, a homegrown electric vehicle and technology company, signing a strategic Memorandum of Understanding (MoU) with Shriram Green Finance Limited, a wholly owned subsidiary of Shriram Finance Ltd. The partnership, announced on August 25, 2025, is poised to transform the adoption of electric commercial vehicles (ECVs) by enabling easier and more accessible financing solutions across the country.
This collaboration reflects a broader vision—making clean mobility not just a technological revolution, but also a financially viable option for businesses, fleet operators, and everyday transporters. With the Indian government’s increasing emphasis on sustainable transport, the tie-up is a timely step to bridge the gap between innovation and implementati
Driving EV Adoption Through Financing
The adoption of electric commercial vehicles in India has long faced a dual challenge: upfront costs and financing barriers. While EV technology has made significant progress in recent years, many businesses still struggle to secure affordable loans for vehicle purchase. By joining forces, EKA Mobility and Shriram Green Finance aim to address this financing bottleneck.
The MoU ensures a wide variety of customers—including fleet operators, dealers, small businesses, and even community organizations—can now access flexible loan options to purchase EKA’s range of electric vehicles. These include buses, light commercial vehicles (LCVs), trucks, and three-wheelers—segments critical to India’s transportation backbone.
“Scaling electric vehicle adoption requires not just technology, but also robust financial infrastructure,” said Rohit Srivastava, Business Head and Chief Growth Officer at EKA Mobility. “This partnership blends EKA’s expertise in EV manufacturing with Shriram Green Finance’s strong distribution network, helping us push sustainable transport deeper into India’s ecosystem.”
Aligning Business with Climate Goals
The collaboration goes beyond business—it directly supports India’s climate ambitions. By easing financing for electric commercial vehicles, the initiative contributes to reducing dependency on fossil fuels, cutting down carbon emissions, and supporting the country’s goal of achieving net zero by 2070.
Nanda Gopal, National Business Head at Shriram Green Finance Limited, reinforced this commitment: “Our mission is to accelerate green transportation in India. Partnering with EKA Mobility allows us to fund environmentally sustainable mobility solutions that align with both economic growth and environmental responsibility.”
The MoU is also in sync with India’s Vehicle Scrappage Policy and its broader strategy to curb air pollution. As older, high-polluting vehicles are gradually retired, EVs will naturally step in as replacements, especially in the commercial sector where usage intensity is higher.
While electric passenger cars often dominate headlines, electric commercial vehicles have an equally crucial role in India’s sustainability transition. Commercial fleets account for a disproportionately high share of urban emissions due to their heavy usage and reliance on diesel. By electrifying buses, trucks, and three-wheelers, India can achieve immediate and large-scale reductions in greenhouse gas emissions and air pollution.
Moreover, the commercial segment directly impacts millions of livelihoods. Affordable financing for ECVs can empower small businesses and transport entrepreneurs, making green mobility an inclusive movement rather than a luxury for a few.
Industry experts point out that the logistics, public transport, and e-commerce sectors stand to benefit significantly. From urban delivery vans to intercity buses, switching to EVs offers long-term operational savings, reduced fuel costs, and lower maintenance expenses.
Building Investor and Market Confidence
The MoU also signals growing confidence among financial institutions to invest in the EV ecosystem. For years, lack of financing models tailored to EVs hindered adoption. Traditional lenders were often wary of supporting electric vehicles due to concerns over battery technology, resale value, and charging infrastructure.
By partnering with Shriram Green Finance, one of India’s most trusted financing institutions, EKA Mobility is helping change this perception. The agreement demonstrates that EVs are no longer experimental—they are a practical, bankable solution for India’s future mobility needs.
This move could encourage other financiers to enter the EV lending space, creating a ripple effect that strengthens the ecosystem as a whole.
Supporting India’s Net Zero Transition
The partnership is well aligned with global trends too. Around the world, financing innovations have proven instrumental in boosting EV adoption. From leasing models in Europe to battery-as-a-service options in China, financial solutions are bridging the gap between consumer interest and actual purchase. India, with its vast and diverse transport landscape, stands to benefit greatly from such tailored interventions.
The timing is particularly significant. With India doubling down on its renewable energy targets and implementing stricter emission norms, the shift to sustainable transport is no longer optional—it is inevitable. By focusing on electric commercial vehicles, EKA Mobility and Shriram Green Finance are ensuring that businesses can participate in this transition without being held back by capital constraints.
Future Outlook
The MoU between EKA Mobility and Shriram Green Finance is more than a partnership—it is a roadmap for the future of transport in India. As EV infrastructure such as charging stations expands, the availability of financing will act as the final piece of the puzzle to ensure widespread adoption.
In the coming years, the initiative could see thousands of zero-emission commercial vehicles hitting Indian roads, drastically cutting urban pollution levels while creating new opportunities in the green economy.
For India’s small entrepreneurs, transporters, and fleet operators, this collaboration could mean easier access to cutting-edge EVs, reduced running costs, and enhanced competitiveness. For the environment, it represents one more decisive step toward a cleaner, greener future.
The partnership between EKA Mobility and Shriram Green Finance sets a positive precedent for India’s electric mobility revolution. By tackling the financial challenges that have long slowed down the adoption of electric commercial vehicles, the collaboration is building a pathway where clean technology meets economic viability.
As India races toward a sustainable transport future, this MoU is not just about vehicles—it is about driving change, enabling growth, and powering the nation’s journey to net zero.
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