NBFC PHF Leasing has expanded into various cities across Madhya Pradesh, offering loans for electric vehicles. The company seeks to support the state’s growing EV market by providing financing for e-rickshaws, e-loaders, and electric two-wheelers, aligning with state-led initiatives.
The expansion includes operations in cities and towns such as Bhopal, Chhatarpur, Gwalior, Indore, Jabalpur, and more. PHF Leasing aims to extend its financial services to a broader audience throughout the state.
Registered with the Reserve Bank of India since 1998, PHF Leasing provides loans against immovable property (LAP) and specializes in financing electric vehicles, particularly e-rickshaws, e-loaders, and electric two-wheelers.
CEO Shalya Gupta announced, “We are expanding into several cities in Madhya Pradesh, with a primary focus on our EV loans portfolio. We also plan to introduce other financial products in the future.”
Gupta stated that due to the government’s support for electric vehicles, there is likely to be an increase in the use of electric two- and three-wheelers in Madhya Pradesh. He expressed a desire to provide financial assistance to meet this rising demand.
