Over the course of the next two years, SUN Mobility aims to deploy 100,000 vehicles utilizing the Battery as a Service (BaaS) model.
SUN Mobility and Revfin have partnered to promote the adoption of electric vehicles (EVs) in India, providing unique financing options for fleet and passenger vehicles through SUN Mobility’s Battery-as-a-Service (BaaS) model. Revfin will offer financing for two-wheelers in the fleet business and three-wheelers for cargo and passenger segments. Over the next two years, SUN Mobility aims to deploy 100,000 vehicles under the BaaS model.
Revfin employs advanced AI-powered tools that allow customers to determine their loan eligibility in just 16 minutes, with financing for fleet deals disbursed within 24 hours after completing the necessary documentation. This approach ensures smooth financing for SUN Mobility’s customers, including those without a conventional credit history. Revfin’s AI tools also evaluate a customer’s repayment capacity and intent using data from online presence, psychometric tests, and gamification.
This financing model is particularly beneficial for users of SUN Mobility’s battery-swapping technology, as these vehicles are 40% cheaper than traditional internal combustion engine vehicles, making them the most cost-effective option in the market.
To promote responsible lending and manage risks, vehicles financed by Revfin are equipped with IoT devices that allow the company to monitor vehicle usage and detect potential issues.
Sameer Agarwal, CEO and Founder of Revfin, expressed their collaboration with SUN Mobility as a testament to their shared commitment towards a greener, more sustainable future, emphasizing the role of innovative financing solutions and advanced electric mobility technology.
Anant Badjatya, CEO of SUN Mobility, highlighted that their partnership with Revfin, which combines SUN Mobility’s innovative battery-swapping technology with Revfin’s accessible financing solutions, is setting the stage for a cleaner, greener future for everyone.
