Enigma Automobiles, one of India’s fastest-growing electric two-wheeler manufacturers, has secured a ₹6.5 crore credit facility from the State Bank of India (SBI) to strengthen its production capabilities and fuel nationwide expansion.
The working capital support — structured as a term loan and an LC line of credit — will enable Enigma to ramp up manufacturing to meet surging demand and expand into Tier-1 markets such as Bengaluru, Delhi, and Hyderabad, where electric vehicle adoption is gaining rapid traction.
With this financial backing, the company plans to enhance its operational capacity over the next 24 months, aiming to establish a stronger footprint in India’s growing EV ecosystem and make sustainable mobility more accessible to urban consumers.
Commenting on the milestone, Anmol Bohhre, MD & CEO of Enigma Automobiles, said: This credit facility from SBI marks a significant milestone in our growth journey. It enables us to ramp up our manufacturing capabilities and strategically enter Tier-1 markets, where the demand for sustainable mobility is rapidly increasing. Our goal is to make Enigma a trusted EV brand across India, and this support brings us one step closer.
Having built a robust customer base in Tier-2 and Tier-3 cities, Enigma is now preparing to capture a larger share of the premium urban EV segment. The company remains committed to delivering eco-friendly, cost-efficient mobility solutions, aligned with India’s growing push toward sustainable urban transportation.
