BatteryPool, an Indian deeptech-fintech startup focused on electric vehicle (EV) battery financing, has partnered with leading non-bank financial companies (NBFCs) to expand flexible EV battery loan options across the country. The collaboration aims to accelerate adoption in the commercial EV segment by offering tailored financing solutions that suit the needs of daily wage earners, gig workers, and fleet operators.
Under this partnership, BatteryPool and its NBFC partners are rolling out a sachetized financing model that allows borrowers to repay battery loans through daily, weekly, or prepaid EMIs rather than large lump sums. This structure mirrors India’s popular micro-payment culture and is designed to align with the irregular income streams typical of informal sector drivers, particularly those operating e-rickshaws and last-mile delivery vehicles.
The financing initiative has already been activated across nine cities in four states, largely in western and central India, where commercial EV usage has seen strong growth. According to industry sources, the model has posted repayment rates exceeding 99 percent, with minimal defaults, reassuring NBFC lenders and boosting confidence in EV battery lending as a viable asset class.
To underpin this financing, BatteryPool has developed proprietary charge-lock technology that embeds repayment discipline directly into the battery system. If a scheduled EMI is missed, the battery’s ability to recharge is temporarily disabled until outstanding payments are cleared, significantly lowering delinquency risk for lenders.
The platform is currently working with key NBFC partners such as AMU Finance and Mufin, which have together committed a monthly credit line in the range of ₹1–2 crore through the BatteryPool system. With additional agreements in discussion, the total financing capacity accessible through the platform now exceeds ₹25 crore, according to insiders familiar with the deployment plans.
BatteryPool’s leadership says this NBFC-enabled financing ecosystem will be critical to scaling commercial EV adoption over the next 12 months, with a target to expand its user base from around 1,400 to more than 10,000 drivers. The company also plans deeper collaboration with EV manufacturers, fleet operators, and digital lending platforms to make sachetized battery financing the standard option for commercial EV buyers nationwide.
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