Tata Motors and ICICI Bank have partnered to provide financing solutions to its passenger EV dealers
ICICI Bank will provide inventory funding to authorised passenger EV dealers as part of the cooperation, in addition to funding to dealers for diesel and petrol vehicles.
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Tata Motors said on Monday that it has teamed up with ICICI Bank to provide financing options to its authorised passenger electric vehicle dealers.
According to Tata Motors, the cooperation will see ICICI Bank provide inventory funding to authorised passenger EV dealers in addition to funding to dealers for diesel and petrol vehicles.
"Our dealer network constitutes a component of our fundamental support pillars, and through their ongoing effort, we ride the electrification wave in India.
"We are optimistic that via this collaboration, we will make EVs more accessible and the EV purchasing process a seamless and memorable experience for our clients," said Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd.
The partnership would provide EV dealers with flexible repayment terms, according to the business.
According to ICICI Bank Executive Director Rakesh Jha, the electric car industry is expanding rapidly in response to rising consumer demand for environmentally friendly electric automobiles.
