Voltup ties up with cKers Finance to expand battery swapping presence in the Country
NEW DELHI, Sept. 27, 2023 /PRNewswire/ — cKers Finance, a NBFC focused on financing sustainability and clean energy transition in India has provided a debt facility to VoltUp, a Battery-as-a-Service (BaaS) provider, offering riders with smart swappable batteries. VoltUp helps enable a quick turnaround for discharged EVs within a minute ensuring nil downtime to the users and zero hassles for all battery-related issues facilitating a unique solution to the current challenges faced by EV industry viz. range anxiety, charging time & affordability.
VoltUp has over 150 stations with 1800+ charging docks across 10 cities and 8 states. The increase in network of man-less swapping stations is achieved by building partnerships with leading Infrastructure partners like HPCL, BPCL, Adani Electricity and more along with the deployment of a distributed franchisee network.
Speaking about the debt facility from cKers, Siddharth Kabra, Founder, Voltup said: “The debt availed from cKers will augment VoltUp’s growth trajectory. We will be using this fund to increase our footprint within the markets we are presently operating in. There has been a consistent uptake on both battery swapping and demand for e-2 & e-3 wheelers with swappable battery.”
Speaking about the partnership, Deepak Gupta, Chief Business Officer at cKers said, “We are excited to have partnered with Voltup, which aims to make affordable battery swapping easily accessible to subscribers by deploying their high-end automated swapping stations. cKers has taken a leading position in financing the clean energy transition in the eSCVs (Electric Small Commercial Vehicles) segment by financing more than 10,000 EVs already, directly or indirectly, including e2Ws, e3W-loaders and eRickshaws. cKers remains bullish about the evolution of a strong EV ecosystem and the growth that it will create for the Indian economy.”
cKers is a clean energy focused financier which is leveraging its understanding of the clean energy ecosystem and technology to develop credit risk underwriting frameworks for assessing viability and risk monitoring for the vehicles being deployed while offering a lower Total Cost of Ownership (TCO) and low carbon alternative to end customers. Our asset financing line for sustainability focussed EV charging eco-system operators like Voltup is customized and structured to help them scale up and helps in the faster adoption of cleaner mode of transport on Indian roads.
About cKers Finance
cKers Finance (pronounced ‘seekers’) (www.cKersFinance.in) is a specialized Sustainable Energy (SE) finance company that operates in the rapidly growing segments around clean energy, e-Mobility and energy efficiency. Established in 2017, cKers specializes in making project finance viable at a small scale for decentralized renewable energy; and develops innovative asset-backed financing approaches. It is also supporting standards for sustainable energy bonds and building data around risk metrics for new segments.
Voltup (https://www.voltup.in/), is a one-stop solution, offering battery swapping for all electric 2-wheeler and 3-wheeler vehicles. VoltUp facilitates EV’s with smart swappable batteries and ensure that everyone can keep driving without having to wait for a recharge.
VoltUp since the start of its operations in 2020, has grown rapidly and is a preferred service provider with ease of operations.
VoltUp is a transparent, easy, accessible, safe, INSTANT and connected portable EV technology provider, making densely populated cities into smart cities.
Manu Khandelwal, Relationship Manager
[email protected] / 84509 59056
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