Chargeup, India’s EV tech platform for last-mile drivers, has entered into a strategic partnership with Eleven to deploy ₹50 crore in ‘Green Clean Loans’—a first-of-its-kind program that merges EV financing with health and livelihood protection. Designed to make EV ownership both affordable and secure, the initiative targets 10,000 drivers across India.
A First in India: Financing + Health + Digital Support Together
The collaboration integrates the strengths of Eleven’s group companies into one seamless model:
- SV Credit Line (SVCL) will offer dedicated EV loans.
- aiqa health will provide insurance, healthcare benefits, and protection during medical emergencies.
- Finncub will streamline loan origination, documentation, and disbursement through its digital platform.
All of this is powered by Chargeup’s tech platform, which ensures transparency, performance assurance, and improved credit access for drivers.
Addressing Long-Standing Barriers for Drivers
For thousands of last-mile drivers, two challenges have held back EV adoption—high upfront costs and lack of affordable healthcare. This program directly tackles both through a holistic safety net.
Notably, the initiative introduces a daily hardship allowance, compensating drivers for income lost during hospitalisation—an often-overlooked gap in gig-economy work.
Leaders Speak: A Mission to Democratise EV Ownership
Varun Goenka, Founder & CEO of Chargeup, highlighted that the goal is to “democratise EV ownership and ensure drivers remain financially and medically protected against shocks.”
Karan Chopra of Eleven emphasised the partnership’s role in empowering grassroots communities with sustainable livelihoods.
Scaling Impact Across India
Chargeup has already enabled EV ownership for 8,000+ drivers and facilitated ₹8.64 crore in EV disbursements. With the Green Clean Loans initiative, this effort now expands significantly—bringing inclusive finance, sustainable mobility, and essential wellness support under one unified framework.
