Wardwizard Innovation & Mobility Limited (WIML), one of India’s leading electric vehicle manufacturers under the Joy e-Bike and Joy e-Rec brands, has entered into an MoU with Muffin Green Finance Limited, a leading NBFC specializing in electric three-wheelers. Strategic partnership has been formed. 3W) Loan. The collaboration aims to provide customized financing solutions for WardWizard’s L3 Passenger and L5 Cargo electric three-wheelers, making EV ownership more accessible across India.
The MoU was signed by Mr. Akhtar Khatri, Director of Sales & Strategy, Wardwizard Innovation & Mobility Ltd. and Mr. Dheeraj Agarwal, Chief Business Officer (CBO), Muffin Green Finance Ltd. along with representatives of both the organizations.
Under the agreement, Muffin Green Finance will provide seamless financing options through WardWizard’s authorized dealer network. WardWizard will ensure proper documentation, vehicle registration with hypothecation to Muffin and timely vehicle delivery. Comprehensive battery support will be provided for both lead acid and lithium batteries, ensuring reliable performance within the eligible warranty period.
Additionally, Muffin Green Finance will expand its financing services to support fleet operations (B2B) for the Joy e-bike electric two-wheeler (2W) and Joy e-bike electric three-wheeler (3W). This includes customized financing options for fleet owners and operators, promoting EV adoption in the commercial and logistics sectors.
The MoU emphasizes collaborative efforts to build a strong EV financing ecosystem. While Muffin will manage the credit appraisal, financing terms and carbon credit benefits, WardWizard will provide operational support, including the purchase of repossessed vehicles in “as-is-where-is” condition. This partnership removes significant barriers to EV financing and access, paving the way for sustainable mobility solutions.
Commenting on the partnership, Mr. Yatin Gupte, Chairman and Managing Director, Wardwizard Innovation and Mobility Limited, said, “We are excited to partner with Muffin Green Finance as their mission of supporting sustainability aligns with our vision of driving green mobility. Aligned with the mission. This partnership will help us increase the penetration of EVs by empowering the consumer segment and providing viable financial assistance to customers. We look forward to partnering with Muffin Green Finance Limited to strengthen the EV ecosystem and make EV ownership more accessible and affordable in India.”
Speaking on the occasion, Mr. Kapil Garg, Co-Founder and Managing Director, Muffin Green Finance Limited, said, “Our association with WardWizard reflects our promise to drive the growth of sustainable mobility in India. “By offering accessible and flexible financing options for their L3 passenger and L5 cargo electric three-wheelers, we aim to make EV adoption seamless and affordable for customers while contributing to a greener future.”
This partnership between WardWizard Innovation & Mobility Limited and Muffin Green Finance Limited represents a significant step towards accelerating the adoption of electric 3W vehicles in India. By combining Muffin’s strong financial solutions with WardWizard’s advanced EV technology, the collaboration aims to facilitate a seamless and convenient transition to sustainable transportation for customers.
 at Mufin Green Finance Limited along with other representatives from both organizations){kind=link}