Shifting Gears: Strategies to De-risk EV Financing
As the electric vehicle (EV) market is gathering pace specifically in the two-wheeler and three-wheeler segments in India, an effective financing solution becomes more critical than ever. Though the promising growth in sales warrants hopefulness over its healthy progress, there are tremendous barriers to seeking an EV loan or a three-wheeler commercial electric vehicle loan for businesses.
Now, to make it widespread towards that more benign transport, it's essential to implement strategies that de-risk EV financing.
Understanding Challenges
The Indian markets for electric two- and three-wheelers are witnessing great growth. Low access to low-cost financing, however, remains one of the biggest challenges. High interest rates, risk perceptions about the borrower's creditworthiness, and volatility in the EV market can dissuade a potential buyer from an EV loan. For a three-wheeler commercial electric vehicle loan, such challenges are further compounded by the need to comply with stricter lending norms.
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