Mega Corporation Unveils Lendingo for EV Financing

Mega Corporation has launched a new division, Lendingo, targeted exclusively at financing electric vehicles (EVs) and their ecosystem. Through diverse financial products, including loans and leases, Lendingo aims to bolster MSMEs in the EV space, driving sustainable growth and innovation for the company.

Mega Corporation has announced the creation of a new division named Lendingo, dedicated to financing electric vehicles (EVs), including essential components like batteries and rickshaws. This initiative aims to provide diverse financial products to cater to the various needs of EV customers.

The focus extends to supporting micro, small, and medium enterprises (MSMEs) within the EV ecosystem, reinforcing Mega Corporation's pledge to sustainable business development. According to a company statement, the establishment of this new vertical is in line with their strategic commitment to fostering sustainable growth within the financial services sector.

Kunal Lalani, Managing Director at Mega Corporation Ltd., highlighted the division's role in meeting the rising demand for EV financing, expected to propel EV adoption and spur new growth and innovation opportunities. Joydeep Dutta, EVP and Business Head, added that Lendingo will significantly expand the company's retail lending operations, diversifying its portfolio and boosting profitability and market share.

(With inputs from agencies.)