AMU Leasing, India’s leading and only woman-led technology-driven NBFC business exclusively serving the Electric Vehicle ecosystem has announced its expansion plans. The Electric Vehicle (EV) financing firm aims to capture the untapped market in the cities that are emerging as potential hubs for EV financing. The company headquartered in New Delhi has plans to grow exponentially in the 7 cities situated in the Northern states of Uttar Pradesh and Haryana, namely, Gorakhpur, Varanasi, Azamgarh, Lucknow, Karnal, Panipat, and Rohtak. The mentioned expansion of business is aimed at the facilitation of easy loans to customers; thus, the expansion is perceived as a major step that will propagate EV adoption in India.
It is noteworthy that the eminent NBFC has always believed in employee emancipation by incorporating meticulous measures to ensure employee welfare along with the establishment of a progressive work environment. Notably, in addition to the mentioned states, the EV financing firm expects to venture further into UP and Haryana towards the central and eastern zone. The objective of AMU Leasing is to assist India’s developing micro-enterprise and self-employment programmes for residents of tier-2 and tier-3 cities. By supporting the alternate fuel-based transportation sector, the company anticipates propelling revenue generation.
Commenting on the prospects of the expansion, Nehal Gupta, Director of AMU Leasing Pvt. Ltd. said, “We at AMU Leasing are thrilled to announce the expansion of our enterprise into the 7 cities of UP and Haryana comprising Gorakhpur, Varanasi, Azamgarh, Lucknow, Karnal, Panipat, and Rohtak. We believe that tier-2 and tier-3 cities possess the potential to emerge as profitable markets for EV financing which can improve livelihoods and uplift the economy. The company has recruited new employees. Hiring helps streamline business processes and provides an avenue to create expertise. The cleantech financing industry is emerging and requires a mind-shift from conventional forms of financing. We look forward to working with individuals with strong business acumen who can pivot to different situations as per the market and industry eliminating the resistance to change. The penetration of young blood in the company helps in nurturing and creating a prolific environment that can prosper a firm on professional and commercial forefronts.”
Vehicle refinancing and battery financing including Energy Storage Service (ESS) are the key service areas that will be emphasised in the expansion. It must be highlighted that AMU Leasing has successfully served over 2,000 clients by assisting them clock more than INR 300 million in revenue over the lifespan of their vehicles. The firm aims to finance 1 million EVs by 2030. The EV financing corporation firmly believes in offering effective financing solutions while placing customer support and satisfaction at the top of its list of priorities for all of its services and products. By financing their EVs, AMU Leasing helps manufacturers, enterprises, and retail customers achieve widespread adoption. The company plans to raise $10 million in debt and equity in the approaching 3 years.
AMU leasing is one the prominent EV financing firms that believe in the utilisation of modern technology to proliferate the business. Recently, the company partnered with Provenir, a software company that assists financial institutions to automate loan origination, credit risk analysis, merchant onboarding, etc. to increase efficiency and speed of decision-making for end users. The stated collaboration provided the NBFC with AI-powered data tools that assist in the smart analysis of the risk factors involved in granting EV loans.