Cars24 ex-CEO and Grip launch Electrifi Mobility to boost EV electrification in India
Cars 24 India Kunal Mundra has partnered with digital investment platform, Grip, to kickstart EV asset management and leasing company, Electrifi Mobility, founded in June 2023, to boost mobility electrification in India, Electrifi Mobility announced on Thursday.
The company looks to provide an end-to-end asset management solution while covering asset selection, leasing, maintenance, post-sales support, refurbishment and redeployment of EV assets.
In a release, Electrifi informed that in the last two months the company has deployed assets worth Rs 10 crore with more deals worth Rs 30 crore in the pipeline.
Co-founder and CEO of the company explained that there are several snags in India's road to net zero and it hovers around electrification of transportation. He highlighted that Fleet Operators have a significant interest in EV deployment however struggle with assessing the right asset and accessing capital to deploy the same.
«However, financial institutions hesitate their inability to assess residual value given the pace of technology evolution in this space and the lack of a secondary market,» Mundra added.
Electrifi Mobility’s aims to cater fleet operators and help them choose the right OEM products for their use case.
In collaboration with multiple capital providers, its leasing arm will work on creating an operating lease for Fleet Operators which enables them to deploy more assets profitably.
«The operations arm will provide multiple post-sale value-added services. Due to strong asset capabilities, Electrifi Mobility will also be able to give the Fleet Operators the option to return the asset to the company redeploying them post refurbishment,» the start-up said.
Electrifi Mobility’s proprietary tech stack will
