MUTHOOT CAPITAL SERVICES STOCK JUMPS 6% IN TRADE TODAY
Published By MintGenie Team | 13 Mar, 2024
Muthoot Capital Services' shares surged by nearly 6% in intra-day trade to ₹307 apiece following a significant partnership announcement.
Credit : PIXABAY
The company partnered with evfin, Greaves Finance Limited's 100% ev-focused lending platform, to expand electric two-wheeler financing across India.
Credit : PIXABAY
The collaboration involves a total deal size of up to ₹150 crore (USD 18 million), highlighting the initiative's scale and ambition.
Credit : PIXABAY
The partnership underscores both companies' commitment to accelerating the adoption of sustainable transportation alternatives as the demand for electric vehicles (EVs) rises in India.
Credit : PIXABAY
Leveraging evfin's expertise in customized automotive financing and Muthoot Capital's established presence in the financial sector, the partnership aims to offer affordable and convenient financing options for electric two-wheeler buyers.
Credit : PIXABAY
Mathews Markose, CEO of Muthoot Capital Services, expressed enthusiasm about the partnership's potential to transform lives by ensuring financial well-being.
Credit : PIXABAY
The collaboration will support a diverse range of renowned electric two-wheeler manufacturers, including OLA Electric, Ather Energy, Ampere, Hero MotoCorp, and TVS Motor.
Credit : PIXABAY
By collaborating with leading OEMs, the initiative aims to provide customers with a wide array of electric two-wheeler options while fostering innovation in the sector.
Credit : UNSPLASH
Comprehensive financing solutions for electric two-wheelers are expected to play a pivotal role in shaping the future of mobility in India.