CARS24's Former India CEO Launches Electrifi Mobility for Full-Stack EV Asset Management and Leasing

Kunal Mundra, the former India CEO of CARS24, has joined forces with the digital investment platform Grip to establish Electrifi Mobility, a comprehensive electric vehicle (EV) asset management and leasing company. Founded in June 2023, Electrifi Mobility aims to provide an end-to-end solution for managing EV assets, encompassing asset selection, leasing, maintenance, post-sales support, refurbishment, and redeployment.

The electric vehicle sector in India is experiencing significant growth and transformation as the country advances towards sustainable mobility solutions. Electrifi Mobility is poised to play a pivotal role in facilitating the adoption of electric vehicles by addressing critical aspects of EV ownership and management.

The platform has already made substantial strides, deploying EV assets valued at INR 10 crore over the past two months. Additionally, Electrifi Mobility has a robust pipeline of deals totaling INR 30 crore, indicating strong demand and potential for growth in the EV asset management space.

Grip, as a digital investment platform, brings valuable expertise and resources to Electrifi Mobility. The partnership allows Electrifi Mobility to leverage Grip's capabilities in raising funds and accessing the capital required to support the burgeoning EV sector in India. This access to capital will be instrumental in expanding the company's operations, acquiring assets, and providing innovative leasing solutions to customers.

As India transitions towards electric mobility and cleaner transportation options, the demand for EV asset management and leasing services is expected to rise significantly. Electrifi Mobility is strategically positioned to meet this growing demand by offering a comprehensive suite of services that simplify EV ownership and make electric vehicles more accessible to businesses and individuals.

The company's commitment to asset refurbishment and redeployment aligns with sustainability goals, contributing to the circular economy by extending the lifespan of EV assets. This approach not only reduces environmental impact but also enhances the cost-effectiveness of EV ownership.

Kunal Mundra, with his extensive experience in the automotive and technology sectors, is well-equipped to lead Electrifi Mobility and drive its mission of accelerating the adoption of electric vehicles in India. The company's focus on asset management and leasing solutions addresses key challenges associated with EV ownership, making it an integral player in India's evolving mobility landscape.

Electrifi Mobility's entry into the market is timely, given the increasing emphasis on sustainable and eco-friendly transportation solutions. As more businesses and individuals explore electric vehicles as a viable option, Electrifi Mobility's services are expected to play a pivotal role in shaping the future of mobility in India.



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