The passenger electric vehicles will be leased to Blusmart Mobility to expand its fleet of ride-hailing cabs. The first tranche of the loan has been disbursed, and the first lot of electric cabs has hit the roads of the national capital, the companies said in a statement.
“E-mobility adoption is going on at a fast pace in the country, and we believe that there is a huge potential in this field,” PFC Chairman and Managing Director Ravinder Singh Dhillon said.
The non-banking financial company has been focusing on the renewable energy sector to diversify its portfolio.
Almost 45% of its gross loan as of December end was of conventional power generation and renewable energy constituted around 10%.
Going forward, PFC plans to give a thrust to renewable and clean energy sources, the company earlier said.
“We have aligned our business operations to leverage emerging opportunities in e-mobility and increased thrust in the transmission and distribution space,” it- said.The company has started to focus more and more on financing of renewable energy projects, it added.
BluSmart, an electric full-stack ride-hailing service provider, will also increase its market share in the electric vehicle mobility segment, it said.
“This financing through PFC which will help us deploy more EVs on the streets of our cities and continue to build on our vision to create a unique customer experience through electric mobility in India,” Anmol Singh Jaggi, Chief Executive Officer of BluSmart Mobility said.
