Wardwizard Innovations & Mobility Limited (WIML), one of India’s leading electric vehicle manufacturers under the brands Joy e-bike and Joy e-rik, has formed a strategic partnership with Mufin Green Finance Limited, a prominent NBFC specializing in electric three-wheeler (3W) loans. This collaboration aims to provide customized financing solutions for Wardwizard’s L3 Passenger and L5 Cargo electric three-wheelers, making EV ownership more accessible across India.
The MoU was signed by Mr. Akhtar Khatri, Director of Sales & Strategy at Wardwizard Innovations & Mobility Limited, and Mr. Dhiraj Agrawal, Chief Business Officer (CBO) at Mufin Green Finance Limited, along with representatives from both organizations.
Under the agreement, Mufin Green Finance will offer seamless financing options through Wardwizard’s authorized dealer network. Wardwizard will ensure proper documentation, vehicle registration with hypothecation to Mufin, and timely vehicle delivery. Comprehensive battery support for both Lead Acid and Lithium Batteries will be provided, ensuring reliable performance within the eligible warranty period.
Additionally, Mufin Green Finance will extend its financing services to support fleet operations (B2B) for Joy e-bike electric two-wheelers (2W) and Joy e-rik electric three-wheelers (3W). This includes tailored financing options for fleet owners and operators, driving EV adoption in the commercial and logistics sectors.
The MoU emphasizes collaborative efforts to create a robust EV financing ecosystem. While Mufin will manage credit evaluations, financing terms and carbon credit benefits, Wardwizard will provide operational support, including buyback of repossessed vehicles in “as-is-where-is” condition. This partnership addresses critical barriers in EV financing and accessibility, paving the way for sustainable mobility solutions.
Commenting on the partnership, Mr. Yatin Gupte, Chairman and Managing Director of Wardwizard Innovations & Mobility Limited, said, “We are excited to partner with Mufin Green Finance as their mission to support sustainability aligns with our mission to drive green mobility. 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.”
On this occasion, Mr.Kapil Garg, Mufin Green Finance Limited, Co-Founder & Managing Director said, “Our association with Wardwizard reflects our promise to drive the growth of sustainable mobility in India. By offering accessible and flexible financing options for their L3 Passenger and L5 Cargo electric three-wheelers, we aim to make EV adoption seamless and affordable for customers while contributing to a greener future.”
This partnership between Wardwizard Innovations & Mobility Ltd. and Mufin Green Finance Ltd. represents a significant step toward accelerating the adoption of electric 3W vehicles in India. By combining Mufin’s robust financial solutions with Wardwizard’s advanced EV technology, the collaboration aims to facilitate a seamless and convenient transition to sustainable transportation for customers.
 at Mufin Green Finance Limited along with other representatives from both organizations){kind=link}