Statiq has partnered with the State Bank of India (SBI) to introduce India’s first financing scheme for setting up electric vehicle (EV) charging stations. Businesses taking loans of up to INR 2 crore will benefit from an additional 2% interest subvention, while women-led enterprises with over 50% ownership will receive a further 10-basis point reduction in interest rates. Loan coverage extends to public charging stations (PCS), captive charging stations (CCS), and battery-swapping stations at public or private locations. Moreover, loans up to INR 5 crore will qualify for coverage under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), making financing more accessible for smaller enterprises.

The initiative targets various businesses, including MSMEs, fuel stations, hotels, restaurants, commercial spaces, and office buildings. The funding will not only accelerate the deployment of charging infrastructure but also ensure that stations are equipped with user-friendly amenities such as restrooms and cafeterias, enhancing the overall EV user experience.

SBI’s involvement in this programme highlights the bank’s commitment to supporting the government’s green mobility goals. By making funding more accessible, the scheme encourages businesses to actively participate in expanding the EV charging network. The financing programme aligns with the Ministry of Power’s guidelines for charging stations, ensuring compliance with safety and fire protection measures.