India’s EV shift needs strong financing, and NBFCs sit at the core. Their agility, partnerships, and new loan models can bridge the credit gap, if they adapt to evolving risks and technology.
Key Points
- EV demand is rising faster than financing access.
- NBFC credit growth is slowing, creating pressure.
- EV financing could grow to ₹1.5 lakh crore by 2030.
- NBFCs excel in fast approvals and underserved markets.
- Key challenges: battery risk, high upfront cost, funding pressure.
- Innovations: BaaS, split financing, flexible EMIs, OEM–fintech partnerships.
- Policy support and green capital can boost NBFC participation.
- NBFCs that build new EV-specific lending models will gain the most.
