Tata Motors on Tuesday announced its partnership with IndusInd Bank to offer an exclusive electric vehicle dealer financing solution to its authorised passenger EV dealers.
As a part of this partnership, IndusInd Bank will provide additional inventory funding with attractive pricing to authorised passenger EV dealers of Tata Motors. Notably, the additional inventory funding would be over and above the ICE finance limit of the dealers.
Meanwhile, the repayment tenure will range from 60 to 75 days. IndusInd Bank will also offer additional limits to cater to high-demand phases, which will be available to dealers twice a year.
Aasif Malbari, Chief Financial Officer, Tata Passenger Electric Mobility and Director, Tata Motors Passenger Vehicles, said, “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.”
He added that the company believes that through this tie-up, it will make EVs more accessible and the buying process a seamless and a memorable experience for the customers.
Sanjeev Anand, Head – Corporate, Commercial, Rural & Inclusive Banking, IndusInd Bank, said, “We are extremely delighted to partner with Tata Motors, one of India’s leading automotive brands, to offer an exclusive electric vehicle dealer financing programme for authorised passenger EV dealers of Tata Motors.”
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