Axis Bank has entered into partnership with the Private Infrastructure Development Group (PIDG) guarantee arm, GuarantCo, to execute an umbrella guarantee framework of $200 million (Rs equivalent) with a programme size of $300 million towards accelerating the E-Mobility eco-system in India.
The framework covering the scope of the Electric Vehicle (EV) guarantee in India. The programme includes Capex financing for a wide range of entities engaged in the manufacturing, distribution or servicing of electric vehicles, batteries, components and charging infrastructure.
Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
