The fourth edition of the Shoonya Webinar Series convened pioneers from India’s finance and clean mobility sectors to explore how capital can drive India’s transition to zero-emission vehicles. The session with panellists from AMU Leasing, DBS Bank, and Small Industries Development Bank of India (SIDBI) focused on unlocking scalable, inclusive financing solutions for electric vehicles (EVs) across segments.

A recurring theme in the discussion was the need to approach EV financing as a systems challenge, rather than a series of isolated interventions. Ms Aparna Agrawal, senior vice president at DBS Bank, emphasised the value of an ecosystem-wide approach, noting, “We have to look at EV financing through the lens of a full value chain, or an ecosystem-led approach, and not in silos. This will help us identify gaps and opportunities along the way.”

Panellists highlighted key challenges hindering growth at scale, including limited credit access for new-to-credit borrowers, uncertainty around residual value, and fragmented data on asset performance. These risks, combined with short tenures and high interest rates, continue to constrain mainstream financial participation.

At the same time, new models of risk sharing and collaboration are gaining traction. Ms Nehal Gupta, managing director at AMU Leasing, underscored the importance of partnership, stating, “Creating synergies between larger institutions and smaller institutions through either credit guarantee schemes, credit enhancement schemes, or co-lending is a fantastic way to share capital and risks.”

From the development finance perspective, Dr. R.K. Singh, chief general manager at SIDBI, called attention to the foundational work required to build a resilient EV finance ecosystem. “Building capacity of the value chain — both on the demand and supply side — is very critical. Because if you have to really talk about bankability, then bankability needs to be travelling across the mindset.” These remarks highlighted the importance of equipping lenders and borrowers with the necessary tools, knowledge, and trust to scale financing effectively.

The session concluded with a rapid-fire round, where panellists offered one word to describe the future of EV finance in India — responses such as “transformational,” “scalable,” and “trusted” reflected a shared sense of momentum and optimism.

Together, these perspectives underscored a shared conviction: finance will not just support the EV transition — it will drive it. Unlocking capital at scale will make EVs affordable, accessible, and inclusive.

You can revisit the discussion by accessing the webinar recording here.