The Solar2EV Project, a joint initiative by India’s Ministry of Social Justice & Empowerment and the Maharashtra Government, aims to make sustainable energy and transportation accessible to all.
To accelerate the adoption of solar rooftops and electric vehicles (EVs) in Maharashtra, Revfin, a digital lending service provider, has partnered with the Government of India’s Social Justice Department for the PM Solar2EV Initiative. This collaboration aims to offer digital lending services and enhance financial inclusion, with Revfin’s participation expected to fast-track its goal of financing 2 million electric vehicles nationwide by 2029.
Sameer Agarwal, CEO and founder of Revfin, expressed his commitment to leveraging digital lending expertise to promote sustainable mobility and financial empowerment. He emphasized that the partnership with the Maharashtra Government’s Social Justice Department reflects Revfin’s dedication to inclusive growth and positive societal impact. Agarwal stated that by providing accessible financing solutions, Revfin aims to expedite the adoption of electric vehicles and contribute to India’s transition towards a greener, more sustainable future.
The Solar2EV project, initiated by the Ministry of Social Justice & Empowerment, Government of India, in collaboration with the Maharashtra Government, aims to make sustainable energy and transportation solutions accessible to all. The initiative allows individuals to access solar energy and electric vehicles at just 30% of the vehicle cost, with 70% funding support through state schemes. The project has attracted collaboration from industry stakeholders and includes a dedicated task force focused on promoting socially sustainable products through skill development programs.
Revfin recently completed its Series B funding round, raising USD 14 million (Rs 115 crore). This funding will further bolster Revfin’s position in India’s EV financing landscape, enabling it to continue supporting essential components such as charging stations and batteries while promoting sustainable mobility and financial inclusion.
