Chennai, [Sep 2 , 2025] — Zeon Electric Pvt. Ltd., South India’s most reliable EV charging network, has signed a Memorandum of Understanding (MoU) with the State Bank of India (SBI) to accelerate the rollout of electric vehicle (EV) charging stations across India. Through this partnership, investors can now access SBI’s EV Mitra scheme, offering loans from ₹10 lakh to ₹10 crore at 2% subsidy on the standard interest rate.

With nearly 2 lakh registered users on its platform, Zeon has built a trusted and profitable EV charging business. After years of proven operations, Zeon is now opening its franchise program, supported by SBI financing, to scale India’s EV infrastructure.

Unlike many players, Zeon delayed franchising until its model demonstrated sustainable profitability. Today, Zeon is one of the few charge point operators in India running a successful revenue-generating network, making this the ideal moment for expansion.

Zeon’s turnkey franchise model handles everything—from securing power connections and charger installation to operations, maintenance, customer service, and payments. Investors simply provide the capital, while Zeon ensures smooth operations and long-term returns.

SBI’s financing support under the EV Mitra scheme includes flexible repayment up to seven years, backed by the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). This significantly lowers collateral requirements, enabling participation by SMEs and individual entrepreneurs.

“Access to capital has been a key barrier in India’s EV infrastructure growth,” said Karthikeyan Palanisamy, Managing Director & CEO of Zeon Charging . “With SBI’s financial strength and Zeon’s proven operational expertise, we are creating an unmatched opportunity for investors to be part of India’s clean mobility revolution.”

Together, Zeon and SBI aim to accelerate the nationwide rollout of EV charging stations and play a pivotal role in achieving India’s target of 30% EV adoption by 2030.