Powering Bharat’s EV Transition: How HeyEV is Building Smarter, Data-Driven Green Financing

🌱 About HeyEV

HeyEV is building India’s next-generation green financing infrastructure—designed specifically for the electric vehicle (EV) revolution. Focused on the 3-wheeler EV segment,

HeyEV merges capital, technology, and operational control into a unified platform.

At its heart lies a TechCo + FinCo structure:

💰 FinCo – owns the lending book, allocates capital, ensures regulatory compliance⚙️ TechCo – builds and operates the IoT stack, lending platform, and asset monitoring tools

This dual engine allows HeyEV to deploy smarter, more efficient credit in markets traditional financiers cannot serve.

⚡ The Opportunity: Electrifying Bharat at Scale

📊 India’s path to Net Zero requires $170B+ in green financing every year, spanning mobility, energy, and infrastructure.

🛺 Electric mobility—particularly 3-wheeler EVs—is a major frontier:

• ₹70,000 crore+ annual financing need

• Highly cost-sensitive

• Rapidly electrifying

• Severely underbanked by traditional lenders

HeyEV’s core focus for the next two years is solving this financing bottleneck using its integrated model.

Beyond mobility, HeyEV also plans to enter decentralised energy financing, starting with

Battery Energy Storage Systems (BESS) + solar. The same tech-finance stack will unlock clean, storable power for rural and peri-urban India.

🚩 Why EV Financing Needs a Rethink

1️⃣ EVs ≠ ICE Vehicles

• ❌ Treated like diesel autos → manual collections, poor underwriting, no visibility

• ✅ Smart EVs allow remote lock/unlock, usage-linked underwriting, dynamic risk

2️⃣ Credit-Invisible Borrowers

• 👷 Drivers: new-to-credit, informal earners, no income proof

• ➡️ 70%+ rejection rates, high interest burdens

3️⃣ Tech Exists, But Isn’t Used

• 📡 GPS, 🔋 BMS, telemetry → siloed, not integrated into lending

4️⃣ Limited Asset Visibility

• ❓ Even OEMs can’t track performance → hard to price risk/resale

5️⃣ High Distribution Costs

• 🏪 Dealer-driven → 20–30% margins, fake down-payments, inflated invoices

6️⃣ No Control Post-Loan

• 🚫 Lenders lose visibility until EMI default

✅ HeyEV’s Solution: Smarter, Full-Stack Green Financing

1. 🏢 Hub-and-Spoke Distribution with COCO Hubs

• COCO Hubs → approvals, disbursals, servicing, recovery

• Spoke Dealers → plug in digitally with training + platform

• Benefits: SOP-led compliance ✅ | Centralized visibility 👀 | Customer trust 🤝

2. 📡 IoT-Backed Underwriting + Risk Monitoring

• Data points: 🔋 Battery health | 📍 GPS | ⚡ Charging behavior

• Enables: Usage-based underwriting 📊 | Dynamic scoring ⚠️ | Theft/misuse detection 🔐

3. 🤖 Automated Collections with Smart Lock Controls

• Miss EMI → 🚪 Remote soft lock

• Pay EMI → 💳 Auto-reactivation

• QR-code & recharge-like flow = 🔻 Lower costs, 🔻 Lower defaults

🔗 TechCo + FinCo Synergy

⚙️ TechCo – Dashboards, IoT stack, dealer tools💰 FinCo – Capital raising, credit book, RBI compliance

Together: A vertically integrated EV lending engine → agile, capital-efficient, de-risked.

🌍 Our Vision: From Roads to Rooftops

• 🔋 Near term: Affordable EV credit in Tier 2/3 cities

• ☀️ Medium term: Solar + BESS financing for homes, farms, businesses

• 🏡 Long term: Infrastructure for India’s clean, storable energy future

👉 We believe clean technology is financeable—with the right blend of software, operations, and capital discipline