Wardwizard Innovations & Mobility, a prominent electric vehicle manufacturer operating under the Joy e-bike and Joy e-rik brands, has announced a strategic partnership with Mufin Green Finance, a non-banking financial company (NBFC) specialising in electric three-wheeler loans.

This collaboration seeks to deliver customised financing solutions for Wardwizard's L3 Passenger and L5 Cargo electric three-wheeler models, thereby enhancing accessibility and ownership for customers nationwide. The Memorandum of Understanding (MoU) was signed by representatives of both organisations, including Akhtar Khatri, Director of Sales & Strategy at Wardwizard Innovations, and Dhiraj Agrawal, Chief Business Officer at Mufin Green Finance.

Under the agreement, Mufin Green Finance will offer financial solutions through Wardwizard's authorised dealer network. Wardwizard will ensure proper documentation, vehicle registration with hypothecation to Mufin, and the timely delivery of vehicles.

Wardwizard will also provide comprehensive battery support, including both Lead Acid and Lithium batteries, ensuring reliable performance within the stipulated warranty period.

Additionally, Mufin Green Finance will extend financing options to support fleet operations for Joy e-bike electric two-wheelers and Joy e-rik three-wheelers, benefiting fleet owners and commercial operators in the logistics and passenger transport sectors.

The partnership represents a concerted effort to establish a robust electric vehicle (EV) financing ecosystem, addressing key challenges in EV adoption.

While Mufin Green Finance will oversee credit evaluations, financing terms, and carbon credit benefits, Wardwizard will provide operational support, including vehicle buybacks under specified conditions.

By streamlining financing and operational services, both companies aim to accelerate EV penetration in India and promote sustainable mobility.

Yatin Gupte, Chairman and Managing Director of Wardwizard Innovations, expressed enthusiasm regarding the collaboration, emphasising its pivotal role in advancing sustainable mobility.

He highlighted that the partnership would empower customers by offering viable financial solutions, thereby making EV ownership more accessible and affordable.

Similarly, Kapil Garg, Co-Founder and Managing Director of Mufin Green Finance, stated that the collaboration aligns with their mission to foster the growth of sustainable transportation through flexible and accessible financing options.

This initiative signifies a significant milestone in facilitating the adoption of electric vehicles in India, combining Wardwizard's advanced EV technology with Mufin's financial expertise.

It is anticipated that the partnership will drive growth in the EV sector, particularly within the commercial and logistics segments, while contributing to a greener and more sustainable future.

Wardwizard Innovations & Mobility is a leading automotive manufacturing company within India's EV sector, operating under the Joy e-bike and Joy e-rik brands.

As the first EV manufacturer to be listed on the Bombay Stock Exchange (BSE), the company is committed to delivering zero-emission, sustainable mobility solutions, with a robust presence in over 400 cities.

Mufin Green Finance is an NBFC regulated by the Reserve Bank of India (RBI) and specialises in climate financing solutions, including loans for electric vehicles, charging infrastructure, and swappable batteries.