Tata Motors ties up with IndusInd Bank on EV dealer financing solution
Tata Motors has entered into a partnership with IndusInd Bank to offer its authorized passenger electric vehicle (EV) dealers an exclusive electric vehicle dealer financing solution.
Under the scheme, the Indian financial services company will offer additional inventory funding to authorized passenger EV dealers of Tata Motors.
The additional inventory funding will be over and above the ICE finance limit of the EV dealers with repayment tenure in the range of 60-75 days, said the Indian automotive manufacturer.
Sanjeev Anand — IndusInd Bank Head of Corporate, Commercial, Rural & Inclusive Banking said: “As a bank with sustainability at our core, we are extremely delighted to partner with Tata Motors, one of India’s leading automotive brands, to offer an exclusive electric vehicle dealer financing program for authorized passenger EV dealers of Tata Motors.
“We are proud to partner with the segment leader in the journey toward a sustainable future. Through this tie-up, we are also looking forward to expanding our base into new consumer segments and be a bank of choice providing solutions to meet all banking requirements of the customers.”
Tata Motors ties up with IndusInd Bank on EV dealer financing solution. Photo courtesy of Tata Motors.
Tata Motors further stated that IndusInd Bank will also provide additional limit to serve high demand phases, which will be available twice a year to automobile dealers.
Aasif Malbari — Tata Passenger Electric Mobility Chief Financial Officer and Tata Motors Passenger Vehicles Director said: “As we move along towards our aim of electrification and green mobility, we are ecstatic to partner with IndusInd Bank to assist our authorized electric passenger vehicle dealer partners with an exclusive financing program.
“Our dealer network is one of our core support pillars and through their constant efforts we have been able to ride the electrification wave in India. We are positive that through this tie-up, we will make EVs more accessible and the EV buying process, a seamless and a memorable experience for our customers.”