Tata Motors has announced its partnership with HDFC Bank to offer an Electric Vehicle Dealer Financing solution to its authorised passenger EV dealers.
Under the scheme, Tata Motors will provide its dealers additional inventory funding over and above their ICE finance limit with attractive pricing linked to Repo Linked Lending Rate (RLLR) and a repayment tenure ranging from 60 to 75 days.
The bank will also offer additional limits to cater to high-demand phases, which will be available to dealers thrice a year.
Aasif Malbari, Chief Financial Officer, Tata Passenger Electric Mobility and Director, Tata Motors Passenger Vehicles, said, “We are optimistic that through this tie-up, we will make the EV buying experience much easier for our customers and this will positively impact their overall buying experience of Tata cars.”
Arvind Kapil, Group Head-Retail Assets-HDFC Bank, noted that the association will help the bank gain new consumer segments through a customised financing programme and promote the EV culture in the country. This is one more step in our journey towards becoming carbon neutral by 2031-32, he added.