Tata Motors Allies With ICICI Bank To Offer Finance To EV Dealers
Tata Motors has established a collaboration with ICICI Bank to provide EV dealer financing to its authorized passenger EV dealers. ICICI Bank would offer inventory finance to Tata Motors’ authorised passenger EV dealers under this initiative.
This inventory assistance is in addition to the bank’s funding to dealers for diesel and gasoline models, according to Tata Motors. EV dealers can take advantage of flexible repayment terms under this program. In India, the firm now sells three electric vehicles: the Tiago.EV, the Tigor EV, and the Nexon EV.
“As the pioneers of EVs in the nation, we take responsibility for their effective adoption,” said Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility (TPEML). In order to achieve total electrification and promote green transportation, we are pleased to collaborate with ICICI Bank to offer an exclusive financing package to our approved passenger electric car dealer partners. Our dealer network is one of our primary support pillars, and we are riding the electrification wave in India thanks to their tireless efforts. We are optimistic that by partnering, we can make EVs more accessible and the EV purchasing process a smooth and memorable experience for our clients.”