Wardwizard Innovations Partners with Mufin Green Finance for EV Financing Solutions

Key Highlights:

• Wardwizard Innovations has partnered with Mufin Green Finance to offer financing for electric three-wheelers.
• The collaboration targets Wardwizard’s L3 Passenger and L5 Cargo models, improving EV accessibility.
• Mufin Green Finance will offer financing through Wardwizard’s dealer network for individual and fleet customers.
• The partnership includes battery support, ensuring reliable vehicle performance.
• The goal is to boost electric vehicle adoption in India, especially in the logistics and commercial sectors.

Wardwizard Innovations & Mobility Ltd., the manufacturer of electric vehicles under the brands Joy e-bike and Joy e-rik, has formed a strategic partnership with Mufin Green Finance Ltd. Mufin Green Finance Ltd is a non-banking financial company (NBFC) specializes in loans for electric three-wheelers.

Financing Solutions for EV Owners

The partnership aims to offer customized financing options for Wardwizard's electric three-wheeler models, specifically the L3 Passenger and L5 Cargo. This collaboration will make it easier for customers across India to access and own electric vehicles. 

The agreement was formalized through an MoU signed by the representatives from both companies, including Mr Akhtar Khatri, Director of Sales & Strategy at Wardwizard, and Mr Dhiraj Agrawal, Chief Business Officer at Mufin Green Finance.

Seamless Financing through Dealers

Under the agreement, Mufin Green Finance will provide financing options to customers through Wardwizard's network of authorized dealers. Wardwizard will handle documentation, registration, and the delivery of vehicles to ensure a smooth process for customers.

Joint Effort to Boost EV Adoption

This partnership is aimed at building a strong EV financing ecosystem, addressing the challenges of electric vehicle adoption in India. Mufin Green Finance will manage credit assessments and financing terms, while Wardwizard will offer operational support, including vehicle buyback options under specific conditions.

Battery Support and Fleet Financing

Wardwizard will also provide reliable battery support, including both Lead Acid and Lithium batteries, under warranty. Mufin Green Finance will extend its financing services to fleet owners and commercial operators in both logistics and passenger sectors, covering Joy e-bike electric two-wheelers and Joy e-rik three-wheelers.

Supporting Sustainable Mobility

Both companies are focused on enhancing accessibility to EVs and promoting sustainable mobility. Yatin Gupte, Chairman and Managing Director of Wardwizard, expressed his excitement about the collaboration, highlighting its role in making EV ownership more affordable. 

Kapil Garg, Co-Founder and Managing Director of Mufin Green Finance, emphasized that the partnership would help grow sustainable transportation by providing flexible financing options.

A Step Toward a Greener Future

This partnership is seen as a main move to boost electric vehicle adoption in India, particularly in commercial and logistics segments. By combining Wardwizard’s advanced EV technology and Mufin Green Finance’s expertise in financial solutions, the collaboration is expected to contribute to a greener, more sustainable future for India.

About Wardwizard Innovations & Mobility

Wardwizard Innovations & Mobility is a prominent player in India’s EV market, with a strong presence in over 400 cities. It is the first listed EV manufacturer on the BSE, focusing on sustainable, zero-emission mobility solutions under the Joy e-bike and Joy e-rik brands.

About Mufin Green Finance Ltd.

Mufin Green Finance Ltd. is an RBI-regulated NBFC specializing in financing climate-friendly solutions, including loans for electric vehicles, charging infrastructure, and swappable batteries.

Also Read: WardWizard Launched New Electric Three-Wheelers

CMV360 Says

The partnership between Wardwizard and Mufin Green Finance provides a real solution to making electric vehicles more accessible, especially in the commercial sector. It addresses both financial and operational challenges, helping to speed up EV adoption in India. With flexible financing options, the collaboration can make EVs more affordable for fleet owners and regular customers, contributing significantly to India’s shift towards sustainable transportation.