NBFC PHF Leasing Limited will offer its EV loan products for electric rickshaws, electric loaders, and electric two-wheelers in the state.
18 Sep 2024 | 1163 Views | By Autocar Pro News Desk
NBFC PHF Leasing enters multiple cities in Madhya Pradesh, offering electric vehicle loans. The company aims to support the growing EV market, providing financing for e-rickshaws, e-loaders, and electric two-wheelers in response to state initiatives.
The expansion includes presence in several cities and towns in Madhya Pradesh, including Bhopal, ...
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NBFC PHF Leasing enters multiple cities in Madhya Pradesh, offering electric vehicle loans. The company aims to support the growing EV market, providing financing for e-rickshaws, e-loaders, and electric two-wheelers in response to state initiatives.
The expansion includes presence in several cities and towns in Madhya Pradesh, including Bhopal, Chhatarpur, Gwalior, Indore, Jabalpur, Katni, Rewa, Sagar, Satna, Shivpuri, Sidhi, Jawa, Raisen, Guna, Ashok Nagar, Vidhisha, Karera, Dabra, Dewas, Ujjain, Bina, Ganj Basoda, Pipariya, Hoshangabad, and Chitrakut. The company aims to increase the availability of its financial products in various parts of the state.
PHF Leasing is a Non-Banking Financial Company registered with the Reserve Bank of India since 1998. The company offers mortgage loans against immovable property (LAP) and financing for electric vehicles, primarily e-rickshaws, e-loaders, and electric two-wheelers.
Shalya Gupta, CEO of PHF Leasing Limited, stated, "We have decided to expand our presence across multiple cities in Madhya Pradesh. Our initial focus will be on our EV loans portfolio, with plans to introduce other products in the future."
Gupta also noted, "Given the Electric Mobility Promotion Scheme and the Madhya Pradesh Government's focus on EVs, we anticipate increased adoption of electric two-wheelers and three-wheelers. We aim to provide financing options for this growing market in the state."