Shriram Finance Limited has consolidated its green financing initiatives under a new vertical, Shriram Green Finance, which will focus on funding sustainable projects beyond electric vehicles (EVs). The vertical will prioritise the financing of EVs, battery charging stations, renewable energy products, energy-efficient machinery, and other green energy solutions.
Shriram Green Finance has set a target of achieving an Asset Under Management (AUM) of Rs 50 billion within the next 3 to 4 years. The company plans to secure both domestic and global funds focused on green investments, which will then be allocated to its targeted initiatives.
Leveraging its extensive customer base in semi-urban and rural areas, Shriram Finance aims to play a transformative role in the green finance sector. The initial focus will be on expanding the EV portfolio in Karnataka, Kerala, the National Capital Region, and Maharashtra. Additionally, Shriram Finance is collaborating with original equipment manufacturers (OEMs) to establish long-term partnerships for accessible EV financing.
