Power Finance Corporation Limited has sanctioned financial assistance aggregating up to ₹6,330 million to Gensol Engineering Limited for financing the acquisition of 5000 passenger EVs (electric four-wheeler cars) and 1000 cargo EVs (electric three-wheeler vehicles).

Luthra and Luthra Law Offices advised and acted for Power Finance Corporation in this deal.

The transaction team consisted of Girish Rawat (Partner), Varun Chauhan (Managing Associate) and Ranjini Ghosh (Associate).

The passenger EVs will be operated by Blu-Smart Mobility on its ride hailing platform in and around Delhi NCR region, and the cargo EVs will be leased for last mile logistics/urban delivery.

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