Statiq has partnered with the State Bank of India (SBI) to provide financing solutions for businesses setting up EV charging stations, marking a significant milestone in India’s transition to green mobility. This initiative will make investing in EV infrastructure easier by offering structured financing options to enterprises and individuals.
Flexible Financing for EV Charging Stations
Under the scheme, SBI will offer term loans ranging from INR 10 lakh to INR 5 crore at concessional interest rates, with an additional 2% interest subvention for loans up to INR 2 crore. The initiative targets:
MSMEs, fuel stations, hotels, restaurants, commercial spaces, and office buildings
Public Charging Stations (PCS), Captive Charging Stations (CCS), and battery-swapping stations
Both public and private locations
Additionally, loans up to INR 5 crore will be covered under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). Women-led businesses (with over 50% ownership) will benefit from a 10-basis point reduction in interest rates.
Driving India’s Green Mobility Goals
Akshit Bansal, CEO & Founder of Statiq, emphasized the importance of expanding India’s EV charging network.
“A strong EV charging network is crucial for India’s clean energy transition. This partnership with SBI empowers businesses to contribute to sustainable transport. Competitive financing will accelerate charging station deployment, and user-friendly amenities like restrooms and cafeterias will make charging stops more convenient.”
This initiative aligns with the Ministry of Power’s safety and fire protection guidelines, ensuring secure and compliant charging infrastructure across the country.
By making funding more accessible, SBI is playing a key role in expanding India’s EV charging network and supporting the government’s clean mobility vision. This collaboration between Statiq and SBI is set to accelerate the adoption of EVs and strengthen India’s sustainable transportation ecosystem.
