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Montra Electric has signed a Memorandum of Understanding (MoU) with non-banking financial company (NBFC) Bansal Credits Limited to simplify vehicle financing for its customers. The partnership aims to make electric vehicle ownership more accessible by providing faster and more convenient financing solutions.
Under the agreement, Bansal Credits will offer financing across Montra Electric's entire product portfolio, including electric three-wheelers, electric small commercial vehicles (e-SCVs), electric medium and heavy commercial vehicles (e-M&HCVs), and electric tractors. The financing services will be made available through Montra Electric's dealership network, enabling customers to access vehicle loans directly at the point of purchase.
The collaboration will initially focus on key markets in Northern India, where Bansal Credits has a strong presence, including Delhi-NCR, Uttar Pradesh, and Punjab.
According to the company, the partnership is expected to accelerate loan approvals and provide structured financing solutions tailored to the needs of commercial fleet operators, businesses, and individual buyers adopting electric vehicles.
Montra Electric believes that improved access to finance will play a crucial role in accelerating electric mobility adoption and making EV ownership more affordable and accessible for commercial customers across the region.
