Ecofy partners with Ather Energy to accelerate EV adoption in India

2026-07-06 12:22:54 Automotive

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New Delhi/Mumbai, 10 February 2026: Ecofy, a pioneering green-only NBFC backed by Eversource Capital, today announced a strategic partnership with Ather Energy, one of India’s leading electric vehicle manufacturers to serve as a preferred financing partner across Ather’s electric two-wheeler ecosystem.

Bringing together two institutions deeply committed to sustainability and climate-positive growth, the partnership aims to accelerate the adoption of electric mobility by improving access to specialized green financing solutions. Through this collaboration, Ecofy plans to deploy INR 100 crore in capital to support financing needs under the partnership, enhancing affordability, flexibility, and customer choice across the EV ownership lifecycle.

As part of the tie-up, Ecofy will offer Ather Energy customers access to its diversified suite of green financing options, including vehicle loans, leasing solutions, assured buyback structures, and Battery-as-a-Service. These solutions are designed to address key barriers to EV adoption by reducing upfront costs, improving total cost of ownership, and offering greater certainty around asset value and battery performance.

Rajashree Nambiar, Co-founder, MD & CEO at Ecofy, said, “Clean transportation is critical to India’s green transition, and wider adoption depends on access to the right financing solutions. Our partnership with Ather Energy brings together strong product offerings and specialized green finance, helping customers adopt EVs with greater confidence, affordability, and flexibility.”

Ravneet Phokela, Chief Business Officer, Ather Energy, said, “Financing is an important consideration in the two-wheeler purchase journey, particularly for customers exploring EVs for the first time. Over the years, we’ve worked to build a strong financing ecosystem to make Ather accessible across markets. This partnership with Ecofy further broadens the range of financing options available to customers looking to buy an Ather, making the purchase and ownership journey easier to navigate. It helps simplify the decision-making process and supports broader access to electric two-wheelers.”

The partnership is built on a shared belief that India’s EV adoption journey will be driven by both product innovation and access to scalable green finance. By combining Ather Energy’s expertise in electric two-wheeler design, manufacturing, and technology with Ecofy’s retail-focused green financing platform, the collaboration aims to expand access to clean mobility and unlock demand across urban and emerging markets in India.

About Ecofy:

Backed by Eversource Capital, Ecofy’s vision is to be a catalyst in accelerating the transition towards a net zero-carbon world. It partners with individuals and small businesses who want to reduce their carbon footprint and restore balance to the planet. Ecofy offers loans for Electric Vehicles (Two & Three wheelers), rooftop solar, and small-medium enterprises providing E2E digital experience.

About Ather Energy Limited

Ather Energy Limited (ATHERENERG | 544397 | INE0LEZ01016) is a pioneer in the Indian electric two-wheeler (“E2W”) market (CRISIL Report). Founded in 2013 by Tarun Mehta and Swapnil Jain, Ather designs and manufactures high-performance electric scooters. Ather launched its first electric scooter in 2018. Its current E2W portfolio consists of two distinct product lines: the Ather 450 series, focused on performance-oriented customers, and the Ather Rizta, a convenience-first family scooter line launched in 2024. Together, these product lines offer a total of 9 variants. Ather was the first two-wheeler OEM in India to establish a dedicated fast charging network, the Ather Grid, which is designed and built in India. Today, Ather operates the widest 2W fast charging network in the country. As of December 31, 2025, Ather has installed 4,357 fast chargers and neighbourhood chargers globally. With a strong emphasis on R&D and innovation, as of December 31, 2025, Ather holds 321 registered trademarks, 247 registered designs, and 50 registered patents, along with pending applications for 120 trademarks, 64 designs, and 536 patents globally.