RevFin, a cutting-edge digital lending platform, has launched its comprehensive #RevFinBharatYatra campaign in an effort to promote electric mobility and environmental sustainability across the country through EV financing. As part of the campaign, Revfin establishes and reaffirms its leadership position in existing markets
#RevFinBharatYatra
The #RevFinBharatYatra campaign gets underway with the fintech platform’s entry into Assam, a state that established “The Electric Vehicle policy of Assam” in 2021 to encourage and hasten the adoption of electric mobility and build an ecosystem for the production of EV parts in the state. Revfin agrees to finance 40% of financed vehicles in Assam by March 2023 as the north-eastern state plans to phase out fossil fuel-based commercial fleets and logistical trucks in all cities by 2030
By the end of March 2023, Revfin hopes to expand into new states, have a presence in 50 cities with 1000 dealers, and gain a further 10,000 users. Cities like Allahabad, Lucknow, Gorakhpur, Kanpur, Agra, Etawah, Bhopal, Indore, Ujjain, Hyderbad, Bangalore, Chennai, Puri, Rourkela, Baleswar, Jaipur, Seeker, Alwar, and Udaipur are among those that Revfin is aiming for.
To accelerate the adoption of EVs and build a strong infrastructure for clean mobility in the nation, it will collaborate with its preferred OEM partners and dealers, including Yatri, Mayuri, Saarthi, Citylife, SAR, Kinetic, Baxy, and Goenka. It will also continue to forge new partnerships with OEMs and dealers across various vehicle types. It also aims to launch 5 new collaborations with e-commerce and other last-mile connectivity providers in different mobility forms like 2W, 3W, and 4W.
In the following five years, RevFin plans to finance 2 million electric vehicles. The business has already spent more than $18 million to finance more than 13,000 electric three-wheelers across 15 states, with more than 500 dealerships and twelve of the industry’s leading original equipment manufacturers (OEMs). It is currently aiming to increase its market share in 6 of the current 14 states and reach 20%. The OEM dealers will benefit from increased visibility in their present geographic areas.
Official Statement
Sameer Aggarwal, Founder and CEO of RevFin said,” India has a 2030 goal of achieving EV sales of 30 per cent for private cars, 70 per cent for commercial vehicles, and 80 percent for 2Ws and 3Ws. Revfin has been and will continue to remain at the forefront of this transition. Being the largest retail EV financiers in India, we believe it is now time for us to be present pan-India. This will enable faster adoption of EVs. Through an aggressive partnership and geographical expansion strategy, we expect to finance 2 million electric vehicles by 2027. In the next 6 months, Revfin will operate across various forms of vehicles including 2, 3, and 4 wheelers as well as finance ancillaries like batteries”.