Mumbai, Oct 21 (PTI) Mega Corporation on Monday announced the launch of a new division, Lendingo, exclusively for EVs financing including batteries, rickshaws, and related ventures.

Lendingo will offer a wide range of financial products, including loans, leases, and other financing instruments, to meet the diverse needs of EV customers. The company will also focus on supporting MSMEs involved in the EV ecosystem, further strengthening its commitment to sustainable business development, the non-banking financial company said in a statement.

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The establishment of the new vertical aligns with Mega Corporation's strategic commitment to fostering sustainable development and growth within the financial services sector, it added.

"Lendingo is aimed at addressing the growing demand for financing in the electric vehicle space, which will not only drive the adoption of electric vehicles but also create new opportunities for growth and innovation within the EV ecosystem," said Kunal Lalani, Managing Director at Mega Corporation Ltd.

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"Lendingo is poised to significantly boost the growth of Mega Corporation by expanding its retail lending operations. This diversification will enhance the corporation's portfolio, ultimately increasing profitability and market share," said Joydeep Dutta, EVP and Business Head at the Mega Corporation Ltd.

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