Kinetic Green Energy partners IIFL Samasta Finance for vehicle financing

Mumbai, Aug 26 (PTI) Electric vehicle maker Kinetic Green Energy and Power Solutions on Tuesday said it has signed an initial agreement with IIFL Samasta Finance for vehicle financing ahead of the festive season.

The partnership, which will come into effect from September, aims to make electric mobility more accessible by providing organised and competitive financing solutions for customers across urban, semi-urban, and rural markets, the company said.

Under the memorandum of understanding, ISFL will act as an accredited financier for Kinetic Green's entire range of electric two- and three-wheelers, providing retail financing solutions through its network of 370 branches across 13 states, the company said.

The partnership includes a targeted outreach to over 200,000 pre-qualified ISFL customers for Kinetic Green's products, supported by joint marketing initiatives and co-branded promotional campaigns aimed at enhancing visibility and improving financial accessibility in the electric mobility sector.

"By combining Kinetic Green's electric vehicles with ISFL's financing platform, we are making it easier than ever for individuals and businesses, especially in semi-urban and rural markets, to adopt sustainable transportation by bridging the financing gap," said Sulajja Firodia Motwani, Founder and CEO of Kinetic Green.

Kinetic Green's product profile includes E-Luna for B2C & B2B customers, the E-Zulu e-scooter Safar series of electric cargo and passenger three-wheelers, as well as a network of over 600 dealers.

"This initiative further strengthens our green financing portfolio, reinforcing our commitment to responsible and impactful lending," said Venkatesh N, Managing Director, IIFL Samasta Finance Ltd. PTI IAS DRR