Ampere partners Muthoot Capital to expand EV financing across India
Ampere, the electric two-wheeler brand of Greaves Electric Mobility Limited (GEML), has partnered with Muthoot Capital Services Ltd. to provide retail financing for its complete range of electric two-wheelers across India.
The partnership will combine GEML’s electric two-wheeler portfolio with Muthoot Capital’s retail financing network, with financing aimed at salaried professionals, self-employed individuals, gig workers and small business owners. The companies expect the arrangement to expand access to electric mobility through more than 500 touchpoints across India.
Financing
Under the partnership, customers purchasing Ampere electric two-wheelers will have access to financing solutions structured for different income profiles and mobility requirements. Flexible repayment options will also be offered to reduce affordability barriers and make EV ownership more financially manageable.
The companies expect the financing arrangement to support wider EV adoption, including beyond metropolitan markets. For GEML, the partnership is also intended to strengthen its market presence by supporting dealer growth and expanding access to its electric two-wheelers.
Manoj M. P., Chief Business Officer, Greaves Electric Mobility, stated: “At Ampere, our focus has always been on making mobility accessible, affordable and practical for every Indian customer. Financing plays a very crucial role in this journey, especially in supporting EV buyers. Our partnership with Muthoot Capital Services Ltd. brings together trusted and our growing electric two-wheeler portfolio to offer seamless and customer-centric ownership solutions. Together, we aim to remove financial barriers, empower customers with greater choice and convenience, and accelerate the adoption of clean mobility across Bharat.”
Mathews Markose, CEO, Muthoot Capital Services Ltd., added: “At Muthoot Capital, our purpose has always been to make mobility financing accessible, responsible, and inclusive for every Indian. As the country transitions towards cleaner and more sustainable transportation, financing will play a pivotal role in accelerating EV adoption beyond metropolitan cities and into the heart of Bharat. Our partnership with Ampere brings together Ampere and Muthoot, two trusted brands, with a shared vision of democratizing access to electric mobility.”
Market reach
GEML is the electric mobility business of Greaves Cotton Limited and has more than 18 years of experience in designing and manufacturing electric vehicles. It operates across the electric two-wheeler and three-wheeler segments, with three manufacturing plants located in Hyderabad, Noida and Ranipet, and 400 dealer touchpoints across India.
Greaves Cotton Limited is a diversified engineering company with a 165-year legacy. Its five independent business units are Greaves Engineering, Greaves Electric Mobility Ltd., Greaves Retail, Greaves Finance Ltd. and Greaves Technologies Ltd.
Muthoot Capital Services is a retail Non-Banking Financial Company (NBFC) with an extensive customer network and technology-enabled lending capabilities, with a focus on mobility financing.
The featured photograph is for representation only.
