In a strategic move that promises to redefine the electric vehicle (EV) leasing landscape in India, Roadcast, a leading SaaS-based logistics automation platform, has announced a groundbreaking partnership with Mufin Green Finance, the country’s first listed Non-Banking Financial Company (NBFC) specializing in EV financing.
This collaboration marks a significant milestone in the integration of advanced Internet of Things (IoT) systems with electric vehicle operations. Mufin Green Finance will lease out GPS-enabled three-wheel electric vehicles (3WEVs), equipped with Roadcast’s cutting-edge technology, setting a new standard for connected and efficient EV leasing.
Roadcast and Mufin Green Finance Partner: Transforming EV Leasing with IoT Technology
The heart of this partnership lies in the technological synergy between Roadcast and Mufin Green Finance. By equipping 3WEVs with GPS devices powered by Roadcast, Mufin gains unprecedented remote access to these vehicles. This enables the finance company to monitor usage patterns, identify underutilized vehicles that may risk lease defaults, and make data-driven decisions to mitigate risks proactively.
Vishal Jain, co-founder of Roadcast, emphasizes the vision behind this partnership, stating, “We are a tech-first company, eager to lead the green revolution by enhancing public access to high-tech, connected EVs. Our collaboration with Mufin represents a significant leap towards making electric vehicle leasing more accessible, efficient, and secure.”
Leveraging Analytics to Mitigate Financial Risks
The adoption of Roadcast’s GPS device is poised to revolutionize fund deployment in the NBFC sector. In an industry where timely recovery of funds and management of lease agreements are critical, the predictive insights offered by Roadcast’s technology afford financiers the ability to take preemptive actions against potential lease defaults.
Kapil Garg, Co-Founder and MD at Mufin Green Finance, highlights the operational benefits of this partnership, “With Roadcast’s platform, we can now identify early signs of vehicles at risk of default. This capability allows us to intervene effectively, thereby minimizing potential losses and streamlining our fund deployment process.”
A Win-Win for Financiers and the Environment
This partnership not only paves the way for increased EV accessibility but also empowers financiers to manage their risks more effectively. Roadcast’s advanced technology enables the prediction and identification of non-performing assets, offering valuable analytics on the performance of original equipment manufacturers (OEMs). Such insights are instrumental for financiers in making informed decisions, optimizing resource allocation, and scaling operations efficiently.
The collaboration between Roadcast and Mufin Green Finance is set to make electric vehicle leasing more efficient, financially viable, and connected. By leveraging IoT technology and analytics, both companies are committed to driving the growth of the EV market in India, ensuring a sustainable and accessible future for all.
This strategic partnership reflects a shared commitment to innovation, sustainability, and the growth of the electric vehicle sector in India. As the nation continues to embrace the green revolution, initiatives like this are crucial for shaping a more connected, efficient, and environmentally friendly future in transportation.
