HSBC India announced its collaboration with Tata Motors. This collaboration is towards a corporate employee financing solution that aims towards accelerating the adoption of zero-emission Electric Vehicles. With this partnership with Tata Motors, HSBC will help leverage the synergies of vision. Thus helping drive a sustainable transition towards a net zero economy.
HSBC India’s partnership with Tata Motors is for a corporate employee financing solution. The long-term target is to bolster the adoption of zero-emission electric vehicles. Currently, consumers holding a salaried account with HSBC India will get a chance to avail of this loan. With this, we can get to purchase an electric vehicle of their choice from Tata Motors’ wide range of EV portfolio. As a part of this scheme, customers can also apply for a loan with key features. This includes zero down payment, low processing fee, no hypothecation, and no documentation charges. Alongside this, customers can also include a special accessory kit for their Tata EVs.
Currently, the Indian Government’s focus is towards growing the EV ecosystem across the country. Thus, they are focusing on building momentum and creating enabling infrastructure. Initiatives like these help in creating awareness and promoting access to EVs. In the long term as well, these collaborations prove their commitment to India’s larger vision of transitioning towards green mobility solutions.
Currently, India has over 85,000 EVs plying on the Indian roads. Tata Motors is the leader in this fast-growing segment. Thus, the company has a big role to play in the development of EVs. With Tata Motor’s wide range of new-age vehicles, they are offering customers the choice to select the EV that best meets their purpose. This collaboration with HSBC India will go a long way in expanding the appeal and reach of customers preferring to go EV.
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