Kinetic Green signs MOU with IIFL Samasta Finance to accelerate EV adoption across urban and rural markets in India

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Bengaluru, 26 August 2025: Kinetic Green Energy and Power Solutions Limited, a leading manufacturer of electric two and three-wheelers in India, today announced the signing of a Memorandum of Understanding (MoU) with IIFL Samasta Finance Limited (ISFL), one of the country’s prominent NBFC and Micro Finance Institutions. The partnership aims to make electric mobility more accessible by providing organised and competitive financing solutions for customers across urban, semi-urban, and rural markets.

The program will commence in September 2025, aligning with the festive season to leverage increased consumer demand for new vehicles. Under this MoU, ISFL will act as an accredited financier for Kinetic Green’s entire range of electric 2 & 3 wheelers and provide retail financing solutions through its extensive financing network of 370 branches across 13 states—Bihar, Gujarat, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Puducherry, Rajasthan, Tamil Nadu, Uttar Pradesh, and West Bengal—ensuring deep penetration into urban, semi-urban, and rural regions.

 The partnership includes a targeted outreach to over 200,000 pre-qualified ISFL customers for Kinetic Green’s products, supported by joint marketing initiatives and co-branded promotional campaigns to amplify visibility and strengthen financial accessibility in the electric mobility sector. Kinetic Green bolsters this partnership with a strong nationwide network of over 600 dealers and a successful track record of selling 150,000+ electric vehicles. Its flagship lineup includes highly successful and well-established products like E-Luna e2W, which has a versatile multi-utility vehicle platform, perfect for B2C & B2B customers, the high-performance E-Zulu e2W scooter offering advanced features and convenience, and the rugged Safar series of e3W cargo and passenger vehicles offering operational excellence. This partnership should enable people to switch to sustainable mobility with ease.

By making electric vehicles more accessible and feature-loaded, we hope to encourage a larger segment of the population to embrace sustainable transportation solutions and decarbonise last-mile connectivity in India. Speaking on the collaboration, Dr Sulajja Firodia Motwani, Founder and CEO of Kinetic Green, said, “We are thrilled to join hands with IIFL Samasta Finance Limited, a pioneer in tailored retail financing, to accelerate the adoption of clean mobility solutions across India. By combining Kinetic Green’s best-in-class electric vehicles with ISFL’s robust financing platform, we are making it easier than ever for individuals and businesses, especially in semi-urban and rural markets, to adopt sustainable transportation by bridging the financing gap.

This partnership underscores our commitment to environmental stewardship and inclusive growth as we work together to electrify the nation’s streets.” Mr. Venkatesh N, Managing Director, IIFL Samasta Finance Limited, said, “At IIFL Samasta, our mission has always been to empower underserved communities through inclusive financial solutions. This partnership with Kinetic Green marks a significant step forward in combining sustainable mobility with accessible credit. By enabling easy and affordable financing for electric two and three-wheelers, we aim to not only promote green transportation but also support economic empowerment across semi-urban and rural India.

This initiative further strengthens our green financing portfolio, reinforcing our commitment to responsible and impactful lending.” The signing of this MoU marks a pivotal step forward for both organisations as they join forces to accelerate the adoption of electric vehicles and advance the government’s vision for cleaner, greener transportation. With this partnership, Kinetic Green strengthens its leadership in India’s EV industry by creating a comprehensive ecosystem that seamlessly integrates manufacturing, distribution, and financing, fostering meaningful and sustainable transformation throughout the mobility landscape.

About IIFL Samasta, an IIFL Group company, is a microfinance institution committed to working towards women’s economic empowerment. Since its establishment in March 2008, IIFL Samasta has been offering innovative and affordable financial solutions to women in rural and semi-urban areas across 22 states in India.

Through a wide range of responsible financial products and services, the company has been driving sustainable and inclusive economic growth. Leveraging cutting-edge technology, we strive to digitise financial services, creating economic opportunities and enhancing living standards. About Kinetic Green: Kinetic Green is one of the leading players in India’s electric vehicle sector, offering a wide range of electric 3-wheelers and electric 2-wheelers – manufactured in a state-of-the-art production facility near Pune, Maharashtra, to advance green mobility solutions aimed at India and global markets.

Helmed by Ms. Sulajja Firodia Motwani, a third-generation scion of the Firodia family, Kinetic Green is dedicated to building a robust pan-India EV ecosystem and developing sustainable solutions to reduce carbon emissions, with a vision to democratise electric mobility and to bring EVs to the mainstream- accessible to not just the classes but to the masses. Kinetic Green has formed a Joint Venture with the world’s leading luxury brand, Tonino Lamborghini of Italy, to develop a range of Electric Golf Carts and Lifestyle Carts for the global markets. To fuel its aggressive growth plans, the company recently secured $25 million in its Series A funding round from UK-based PE fund, Greater Pacific Capital and is in the process of raising another $30 million.