Wardwizard Partners with Mufin Green for EV Financing

Mumbai, Dec 17 (PTI) Gujarat-headquartered electric vehicle maker Wardwizard Innovations & Mobility on Tuesday announced a strategic partnership with Mufin Green Finance for exclusively providing customised financing solutions to its electric cargo three-wheeler and electric passenger rickshaw customers.

The initial pact was signed by WIML director for sales and strategy Akhtar Khatri and Mufin Green Finance Chief Business Officer Dhiraj Agrawal.

Mufin will manage credit evaluations, financing terms and carbon credit benefits, while Wardwizard will provide operational support, including buyback of repossessed vehicles in "as-is-where-is" condition.


Mufin, a non-banking financial company (NBFC), specialises in three-wheeler electric vehicle loans.

"The partnership will help us empower the consumer segment and increase the penetration of EVs by facilitating customers' viable financial support. We look forward to strengthening the EV ecosystem in partnership with Mufin Green Finance Ltd and making EV ownership more accessible and affordable in India," said Yatin Gupte, Chairman and Managing Director of Wardwizard Innovations & Mobility Limited (WIML).

Besides, Mufin Green will also extend its financing solutions to support fleet operations (B2B) for the company's Joy e-bike electric two-wheelers and Joy e-rik electric three-wheelers (3W), it said, adding this includes providing tailored financing options for fleet owners and operators, further accelerating the adoption of electric vehicles in the commercial and logistics sectors.