JSW MG Motor India announced its collaboration with Ecofy, an NBFC backed by Eversource Capital, to offer financing and leasing solutions for its electric vehicles.
The companies have signed a Memorandum of Understanding (MoU) under which Ecofy will finance and lease up to 10,000 JSW MG electric vehicles over the next three years, according to a company statement.
The collaboration will offer loan options and leasing arrangements for both retail customers and B2B operators, encompassing the existing and future electric vehicle models from JSW MG Motor India.
“This partnership underscores JSW MG India’s dedication to delivering innovative EV ownership solutions to boost the adoption of electric vehicles (EVs) in India,” said Gaurav Gupta, Chief Growth Officer of JSW MG Motor India.
He added that by collaborating with industry specialists to offer creative financing solutions, the company is making EV ownership more accessible and affordable for a broader audience.
Ecofy’s Co-founder, MD & CEO, Rajashree Nambiar, emphasized the goal of the partnership: “By merging our financial expertise with JSW MG’s advanced electric vehicle technology, we aim to make EVs more accessible, enabling individuals and businesses to adopt a greener future without sacrificing convenience or affordability.”
