In a groundbreaking collaboration, Revfin, India’s leading digital lending platform for sustainable mobility, has partnered with Kalyani Powertrain Ltd (KPTL), the electric mobility arm of Bharat Forge Ltd, and Bluwheelz, a provider of sustainable logistical solutions, to launch retrofitted electric trucks in the Indian logistics sector. This initiative aims to support the 100% conversion of truck fleets to electric vehicles (EVs) over the next five years, leveraging innovative financial products and government schemes.
KPTL has successfully homologated retrofitted electric trucks in the 10-16T Gross Vehicle Weight (GVW) category for the N3 Goods Carrier segment. These trucks are designed to serve sectors such as FMCG, e-commerce, cement, steel, and perishable goods, promoting ‘Made in India’ solutions in the global automotive market.
Retrofitting EVs is pivotal for urban transport evolution, contributing significantly to sustainable and smart cities. It extends the lifespan of vehicles by 5 to 7 years, aiding in the reduction of vehicular emissions and preventing scrappage due to regulatory mandates.
Sameer Aggarwal, CEO and Founder of Revfin, emphasized, “We are committed to revolutionizing sustainable mobility and strengthening the EV ecosystem. Retrofitting is crucial for achieving decarbonization and net-zero goals, making EV adoption more accessible and fostering a greener future. Financing retrofitted vehicles supports broader sustainability goals, and we advocate for regulations that simplify retrofitting processes and extend vehicle registration periods beyond 15 years.”
The retrofitted trucks, capable of carrying payloads between 7-10T, are designed for intercity routes and will serve a diverse clientele across various sectors. CP Sethi, CEO and Co-founder of Bluwheelz, stated, “This marks the launch of India’s first medium-duty retrofitted electric trucks for the mid-mile logistics segment. We appreciate Revfin and KPTL’s invaluable support in achieving sustainability in the logistics sector.”
Amit Kalyani, Vice-Chairman & Joint Managing Director of Bharat Forge Ltd, added, “KPTL is dedicated to developing sustainable transportation infrastructure. By introducing groundbreaking EV products and promoting retrofitted vehicles, we aim to make these trucks the preferred choice, with a 24% reduction in Total Cost of Ownership (TCO) compared to new electric models.”
The initiative underscores the need for coordinated efforts involving government initiatives, industry collaboration, and public engagement to overcome the challenges of transitioning from internal combustion engines to electric vehicles. Together, these efforts can pave the way for a cleaner, greener world.
