Wardwizard Innovations partners with Mufin Green Finance to boost EV adoption

Vadodara, India: Wardwizard Innovations & Mobility Limited, a prominent electric vehicle manufacturer under the brands Joy e-bike and Joy e-rik, has entered into a strategic green finance partnership with Mufin Green Finance Limited. This collaboration aims to accelerate EV adoption growth by providing affordable EV financing solutions for electric three-wheelers across India.

The partnership primarily focuses on Wardwizard’s L3 Passenger and L5 Cargo electric three-wheeler models. Through its expertise, Mufin Green Finance will offer electric vehicle ownership support through electric three-wheelers financing, tailored financial solutions to buyers while Wardwizard ensures operational support, including seamless vehicle delivery and documentation.

Both companies are aligned in their commitment to promoting sustainable mobility solutions. Mufin Green Finance will handle credit evaluations and financing terms while leveraging carbon credit benefits. Wardwizard, on its part, guarantees vehicle registration with hypothecation to Mufin and battery support for both lead-acid and lithium-ion models within eligible warranty periods. The collaboration also extends financing opportunities to fleet operators financing Joy e-bike two-wheelers and Joy e-rik three-wheelers.

Mr. Yatin Gupte, Chairman and Managing Director of Wardwizard Innovations, emphasized how affordable EV financing is pivotal in increasing EV adoption growth in India. He stated that this green finance partnership empowers consumers and fleet operators, removing financial barriers to electric vehicle ownership. Similarly, Mufin Green Finance’s Co-founder Kapil Garg reiterated their shared goal of promoting sustainable mobility solutions with seamless and flexible electric three-wheelers financing options.

This initiative underscores the growing need for innovative financing to overcome traditional barriers in EV ownership. By combining Wardwizard’s cutting-edge EV technology with Mufin’s robust green finance partnership services, the collaboration is set to revolutionize India’s electric mobility ecosystem and encourage widespread EV adoption growth.