Electric Vehicles

Tata Motors with Axis Bank offer Electric Vehicle Inventory Financing program

Written by Nayak

In an effort to make the coming festive season special, Tata Motors has announced its partnership with Axis Bank. As a part of this, customers will get an exclusive Electric Vehicle Dealer Financing solution.

What’s Covered Under This Partnership?

Dealers will get the freedom of availing inventory funding over and above their ICE finance limit with attractive pricing linked to Repo Linked Lending Rate (RLLR). The repayment date will range from 60 to 75 days, which adds to the peace of mind. Furthermore, Axis bank will also offer additional limits to cater to high-demand phases during the festive season. This will happen to dealers 3 times a year.

This initiative will greatly help the dealers who play an important role in enabling widespread EV adoption in the country. Both the companies are positive that this initiative will further support their vision to achieve the goal of green mobility, thus bolstering sustainability in the mobility sector in the country.

Axis Bank’s Green Initiative

Axis Bank also talked about its commitment to the objective of driving Green Mobility financing solutions. Thus this partnership with Tata Motors marks their dedication to the cause. This industry-first solution will help Axis Bank to expand its base into newer consumer segments and address their financial requirements. With the growing demand for EVs in the market, this partnership will go a long way in significantly contributing to this trend.

Tata Motors’ EV Conquest

Tata Motors has been revolutionizing the Indian automotive market with a lot of effort. Currently, it is leading the e-mobility wave in India with a commanding market share of 87 per cent in FY’22. As of today, over 30,000 Tata EVs are plying on the Indian roads, including both personal and fleet segments. With more launches planned for the future, Tata Motors is spearheading the EV movement in India. The carmaker already has three EV models to choose from, Tigor EV for both passenger and commercial segments and the ever-green Nexon EV. With more new models coming in, we expect more customers to join the movement.

Also Read:  Tata Motors will deploy 1,000 XPRES T EVs for cab services in Eastern India.