The Ministry of Heavy Industries held a high-level meeting to design financing mechanisms that could accelerate private sector adoption of electric buses and trucks. Participants from banks, NBFCs and financial institutions discussed key barriers in EV financing and how to overcome them, aiming to unlock faster fleet transition and expand electric commercial transport in India.
Astranova Mobility, an EV financing platform, has raised Rs 60 crore from IvyCap, ADB and Trucks VC. CEO Mundra says the capital will largely bolster data, AI and engineering capabilities, positioning the company for more than five-fold growth over the next 18 months. The round signals intensified competition in India’s EV lending and fintech space.
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