In order to offer financing options for electric two- and three-wheelers in both urban and rural Indian markets, electric vehicle maker Kinetic Green Energy and Power Solutions Limited and IIFL Samasta Finance Limited have signed a Memorandum of Understanding.

The collaboration, which was revealed on August 25th, intends to increase the availability of electric automobiles by providing structured financing alternatives. Kinetic Green’s entire product line will be financed by IIFL Samasta Finance, a microfinance organisation and non-banking financial enterprise. Beginning in September 2025, the campaign will take place during India’s holiday season, when demand for cars usually rises. In 13 states—Bihar, Gujarat, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Puducherry, Rajasthan, Tamil Nadu, Uttar Pradesh, and West Bengal—there are 370 branches of IIFL Samasta’s financing network.

In order to raise awareness in the electric mobility industry, the partnership consists of co-branded promotional efforts, cooperative marketing initiatives, and targeted outreach to more than 200,000 pre-qualified IIFL Samasta clients.

With more than 600 dealers across the country, Kinetic Green claims to have sold over 150,000 electric cars. The company’s product portfolio consists of the Safar series of electric three-wheelers for passenger and cargo transportation, the E-Zulu electric scooter, and the E-Luna electric two-wheeler for multipurpose use.

IIFL Samasta Finance was founded in March 2008 with the goal of giving women in 22 Indian states who live in rural and semi-urban areas access to financial solutions. The business, which is a member of the IIFL Group, focusses on providing microfinance services.

Kinetic Green’s founder and CEO, Dr Sulajja Firodia Motwani, explained the collaboration as an attempt to hasten the adoption of clean mobility by fusing the company’s electric cars with IIFL Samasta’s finance platform, with a focus on semi-urban and rural markets.

The relationship is in line with IIFL Samasta Finance Limited’s aim to provide inclusive financial solutions to underprivileged communities while promoting green mobility and economic development, according to Venkatesh N, Managing Director.

Kinetic Green teams up with IIFL Samasta Finance to drive affordable EV access across India

The collaboration coincides with India’s ongoing efforts to promote the use of electric vehicles as part of its larger environmental and transportation policy objectives. The partnership aims to increase the number of electric car buyers outside of conventional metropolitan markets by removing financial obstacles, especially in semi-urban and rural areas.

Greater Pacific Capital, a UK-based company, has already contributed $25 million in Series A capital to Kinetic Green, and the company is apparently looking for an additional $30 million. Additionally, the business has partnered with Italian Tonino Lamborghini to provide lifestyle and electric golf carts for international markets.