BatteryPool, an India-based deeptech–fintech platform focused on electric vehicle (EV) battery financing, has partnered with leading non-banking financial companies (NBFCs) to introduce a sachetized financing model for the commercial EV segment. The initiative is designed to support e-rickshaw drivers, gig workers and fleet operators by aligning loan repayments with the irregular income patterns common in the informal workforce.
Under the model, borrowers can repay battery loans through daily, weekly, or prepaid 15-day and 30-day EMI options. This flexibility allows drivers to manage repayments based on cash flows rather than fixed monthly cycles, making EV adoption more accessible. BatteryPool’s financing operations are currently active across nine cities in four states, largely in western and central India, where the company has reported repayment rates exceeding 99 percent and minimal credit losses for its lending partners.
Founded in 2018, BatteryPool has developed a proprietary charge-lock technology that embeds repayment discipline directly into the battery system. If an EMI is missed, the battery cannot be recharged until the outstanding amount is paid, after which charging access is automatically restored. This mechanism significantly reduces default risk and has helped build confidence among NBFCs looking to expand their EV lending portfolios.
The platform integrates hardware, software and AI to enable real-time payment tracking, battery lifecycle monitoring and flexible repayment structures that traditional EV financing models typically cannot support.
NBFC Partnerships and Expansion Plans
BatteryPool is currently working with two NBFC partners—AMU Finance and Mufin—which together are deploying a monthly credit line of ₹1–2 crore through the platform. With additional partnerships in the pipeline, the company now has access to a total deployment capacity of over ₹25 crore. This capital will support BatteryPool’s plans to expand its user base from around 1,400 drivers to more than 10,000 over the next 12 months.
“Our mission is to make EV ownership attainable for every driver by linking affordability to technology,” said Ashwin Shankar, Founder and CEO of BatteryPool. “Our sachetized EMI model creates a new type of financial inclusion for drivers who depend on daily earnings, while offering lenders a secure and fully digital collection system.”
Batteries account for nearly 50 percent of the total cost of an e-rickshaw, making financing critical for ownership. BatteryPool currently manages over 2,200 batteries and plans to scale this to 6,000 units by March 2026. Its portfolio includes both Battery-as-a-Service rentals and NBFC-financed batteries owned by drivers through flexible EMIs.
After three to four years of use, batteries are repurchased by BatteryPool at a predetermined price and either refurbished for stationary energy storage or recycled, supporting long-term asset utilisation and sustainability. Looking ahead, the company plans deeper integrations with EV manufacturers, fleet operators and digital lending platforms to make sachetized battery financing a standard option for commercial EV buyers in India.
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