Tata Motors & IndusInd Bank Join Hands To Offer Exclusive EV Dealer Financing

In effort towards increasing EV adoption in the country, Tata Motors today announced that it has joined hands with IndusInd Bank to offer an exclusive Electric Vehicle Dealer Financing solution to its authorised passenger EV dealers. Under this scheme, IndusInd Bank will provide additional inventory funding with attractive pricing to authorised passenger EV dealers of Tata Motors. This additional inventory funding would be over and above the ICE finance limit of the dealers. Repayment tenure will range from 60 to 75 days. Furthermore, IndusInd Bank will also offer additional limit to cater to high demand phases, which will be available to dealers two times in a year. 

The MoU for this partnership was signed by Aasif Malbari, Chief Financial Officer, Tata Passenger Electric Mobility and Director, Tata Motors Passenger Vehicles and Sanjeev Anand, Head – Corporate, Commercial, Rural & Inclusive Banking, IndusInd Bank.

“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,” said Aasif Malbari, CFO, Tata Passenger Electric Mobility and Director, Tata Motors Passenger Vehicles.

“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,” said Sanjeev Anand, Head – Corporate, Commercial, Rural & Inclusive Banking, IndusInd Bank.

Tata Motors has been pioneering the Indian automotive market with its groundbreaking efforts, and is currently leading the e-mobility wave in India with a commanding market share of 89%, with over 50,000 EVs produced till date in personal and fleet segments.