EV Financing Companies & Banks in India – Best Companies for EV Loans

Electric vehicles (EVs) are quickly gaining traction, driven by technological advancements, environmental awareness, and supportive government policies.

However, EVs have a hefty price tag compared to traditional petrol and diesel vehicles. According to Acko Drive, the total cost of owning an electric vehicle for five years amounts to approximately ₹2,72,500, which is a significant sum for an average or middle-class consumer.

Much of this cost stems from the expensive battery pack, which makes up nearly half the vehicle’s price. Coupled with advanced EV technology, this makes electric vehicles more expensive than their conventional counterparts.

Fortunately, several EV financing options have emerged to ease this burden.

Here is a list of the top 15 EV financing companies and Banks in India that are actively supporting the rise of electric mobility, offering loans for electric two-wheelers, three-wheelers, and electric four-wheelers.

List of the Top 15 EV Financing Companies in India