Revfin, Bluwheelz, and Kalyani Powertrain (KPTL) have joined hands to introduce retrofitted electric trucks, marking a significant leap towards sustainable transportation solutions in the country. Revfin, a key player in the financial sector, has collaborated with Kalyani Powertrain and Bluwheelz to introduce pioneering financial products tailored to facilitate the comprehensive conversion of truck fleets to electric power within the next five years.
Leveraging government incentives and partnerships with original equipment manufacturers (OEMs) and fleet operators, this initiative underscores Revfin’s commitment to revolutionizing the electric vehicle (EV) ecosystem and driving sustainable mobility solutions. In a groundbreaking development, KPTL has achieved homologation for retrofitted electric trucks in the 10-16T gross vehicle weight (GVW) category for the N3 Goods Carrier segment. These electric trucks are poised to cater to various sectors, including fast-moving consumer goods (FMCG), e-commerce, cement, steel, and perishable goods, thereby bolstering India’s position as a provider of ‘Made in India’ solutions for the global automotive market.
Retrofitting of electric vehicles plays a pivotal role in the evolution of urban transport, offering a practical pathway towards sustainable and smart cities. As global initiatives to combat climate change intensify, retrofitting presents an opportunity to extend the lifespan of older vehicles by 5 to 7 years, thereby reducing scrappage rates and minimizing environmental impact in line with regulatory standards. However, widespread adoption of retrofitted EVs hinges on accessible financing options. To accelerate the transition towards electric mobility, it is imperative to secure affordable financing from financial institutions and climate-focused organizations, both domestically and globally. Additionally, incentivizing schemes and carbon credit programs can further drive EV adoption by alleviating financial barriers and encouraging investment in sustainable transportation solutions.
