Battery swapping solutions provider SUN Mobility has partnered with electric vehicles (EVs) financing digital platform Revfin for financing solutions. Under the partnership, Revfin will offer innovative financing solutions for EVs which use SUN Mobility's battery-as-a-service (BaaS) model.

Revfin will finance electric two-wheelers for fleet business and electric three-wheelers for cargo and passenger vehicle segments. The partnership is for 24 months.

Over the next two years, SUN Mobility plans to deploy almost one lakh of these vehicles under the BaaS model. The disbursement of vehicles will be in cities like Pune, Bengaluru, Mumbai, Hyderabad, and NCR. It has started deploying vehicles in Bengaluru and now plans to expand to Delhi and Pune with an estimated cost of Rs 1,200-1,500 crore.

The partnership will scale up Revfin's presence in the last-mile delivery space. The two have an existing collaboration for deploying 1,000 vehicles which was signed in January, 2024. By extending financing options for electric fleet operators, Revfin aims to steer the adoption of EV.