EV financing firm Ascend Capital plans to raise Rs 500 crore in next 18 months

Jaipur-based electric commercial vehicle (eCV) financing firm Ascend Capital is planning to raise Rs 500 crore over the next 18 months as it looks to finance over 1 million electric commercial vehicles by 2030, the company said on Wednesday.

Cofounded in 2019 by Lokesh Chandra Mittal and Gaurav Maheshwari, the company has so far invested about Rs 80 crore in its own business and has financed over 8,000 commercial EVs.