With an effort towards encouraging Electric Vehicle (EV) adoption in the country, Tata Motors has announced its collaboration with ICICI Bank. Under this, they will offer an EV Dealer Financing solution to its authorised passenger EV dealers. This scheme will aid in the inventory funding to the authorised passenger EV dealers of Tata Motors. This inventory funding is on top of the bank’s funding to dealers for diesel and petrol models. Under this facility, EV dealers can avail flexible repayment tenures.
Tata Motors Taking Big Steps In The EV Industry
As the pioneers of EVs in the country, Tata Motors is taking the key responsibility for their successful adoption. The aim is towards achieving complete electrification and promoting green mobility. Thus they decided to tie up with ICICI Bank to assist its authorised passenger electric vehicle dealer partners with an exclusive financing program. The dealer network forms an integral part of its core support pillars. And with their constant effort, they ride the electrification wave in India. We are confident that through this tie-up, Tata Motors aims to make EVs more accessible and the EV purchase process a seamless and memorable experience for its customers.”
The Demand For EVs On The Rise
The electric vehicle industry is growing at a rapid pace. With the increase in consumer demand for environment-friendly electric vehicles in the country. The launch of EVs is one of the significant steps in the automobile space. ICICI Bank has a legacy of supporting innovative technological initiatives and continues to aspire for the same. In line with this philosophy, ICICI bank is delighted to partner with Tata Motors. They will offer an electric vehicle financing programme for the authorised dealers of the country’s leading automotive company. This also reflects its continued participation in India’s journey towards a sustainable future.
Tata Motors With A Massive Share In The Segment
Tata Motors has been pioneering the Indian automotive market with its innovation and technology. In fact, it is currently leading the e-mobility wave in India with a commanding market share of 85.8 percent with over 57,000 EVs produced to date in personal and fleet segments.