Australia’s Macquarie Group on Monday launched its electric vehicle (EV) financing and end-to-end solutions platform Vertelo in India, which will invest $1.5 billion in electrifying fleets of buses and cars. The platform will offer financing, fleet management, and charging infrastructure solutions.
Speaking to reporters, Abhishek Poddar, India Country Head, Macquarie Group said that around 5 per cent of this investment would go towards creating charging infrastructure and other requirements. Most of the investment will be for acquiring the vehicles. Poddar added that they planned to apply to the Reserve Bank of India (RBI) for a non-banking financial company (NBFC) licence. The NBFC would engage in lending for EV financing.
