Lendingo, Mega Corporation's new division, will offer tailored financial solutions for electric vehicles, including EV batteries and rickshaws, aiming to support MSMEs and drive sustainable growth in the expanding electric mobility market.
21 Oct 2024 | 2350 Views | By Autocar Professional Bureau
Mega Corporation Limited, a Non-Banking Financial Company (NBFC) listed on the BSE, has announced the launch of Lendingo, a new division dedicated to providing financing for electric vehicles (EVs), including EV batteries, rickshaws, and related ventures. The goal of Lendingo is to support the growing EV sector and contribute to ...
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Mega Corporation Limited, a Non-Banking Financial Company (NBFC) listed on the BSE, has announced the launch of Lendingo, a new division dedicated to providing financing for electric vehicles (EVs), including EV batteries, rickshaws, and related ventures. The goal of Lendingo is to support the growing EV sector and contribute to sustainable solutions.
Kunal Lalani, Managing Director at Mega Corporation Limited, noted that Lendingo aims to address the increasing demand for financing in the electric vehicle space. He stated that Lendingo will help promote the adoption of electric vehicles while creating opportunities for growth and innovation within the EV ecosystem. By offering tailored financial solutions, the division will support EV customers in their transition to electric mobility, contributing to a greener future.
Lendingo aligns with Mega Corporation's strategic focus on sustainable development within the financial services sector. The new division will provide accessible financing options to accelerate the adoption of electric mobility, furthering the company's commitment to environmental sustainability.
The division will offer a variety of financial products, including loans, leases, and other financing instruments, to meet the diverse needs of EV customers. Additionally, Lendingo will focus on supporting registered Micro, Small, and Medium Enterprises (MSMEs) involved in the EV ecosystem, strengthening Mega Corporation's commitment to sustainable business development.
As part of its focus on sustainable finance, Mega Corporation will ensure that Lendingo's activities adhere to environmental, social, and governance (ESG) standards. The division will prioritise projects aimed at reducing carbon emissions, promoting energy efficiency, and improving air quality.
Joydeep Dutta, EVP & Business Head of Mega Corporation, highlighted that Lendingo will help boost the corporation’s growth by expanding its retail lending operations. He noted that this diversification will enhance the company’s portfolio, increasing profitability and market share. As the EV market continues to grow, Lendingo’s approach—combining technology, personalised solutions, strategic partnerships, and a focus on sustainability—positions it to capture a significant share of the expanding EV financing market.