

KOCHI:
As an effort towards encouraging Electric Vehicle (EV) adoption in the country, Tata Motors, India’s leading automotive manufacturer, has announced its partnership with ICICI Bank to offer an EV Dealer Financing solution to its authorised passenger EV dealers. Under this scheme, ICICI Bank will provide inventory funding to the authorised passenger EV dealers of Tata Motors. This inventory funding is in addition to the Bank’s funding to dealers for diesel and petrol models. Under this facility, the EV dealers can avail flexible repayment tenures.
The MoU for this partnership was signed by Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd., and Tata Passenger Electric Mobility Ltd. and Rakesh Jha, Executive Director, ICICI Bank Ltd.
Commenting on the partnership, Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd., and Tata Passenger Electric Mobility Ltd. said, “As the pioneers of EVs in the country, we take responsibility for their successful adoption. In our aim towards achieving complete electrification and promoting green mobility, we are happy to partner with ICICI Bank to assist our authorized passenger electric vehicle dealer partners with an exclusive financing program. Our dealer network forms a part of our core support pillars, and through their constant effort, we ride the electrification wave in India. We are confident that through this tie-up, we will make EVs more accessible and the EV purchase process a seamless and memorable experience for our customers.”
Speaking on this partnership, Rakesh Jha, Executive Director, ICICI Bank, said, “Electric vehicle industry is growing at a rapid pace with the rising consumer demand for environment-friendly electric vehicles. The launch of EVs is one of the significant innovations in the automobile space. ICICI Bank has a legacy of supporting innovative technological initiatives. In line with this philosophy, we are delighted to partner with Tata Motors to offer an electric vehicle financing programme for the authorised dealers of the country’s leading automotive company. This reflects our continued participation in India’s journey towards a sustainable future.”
Tata Motors has been pioneering the Indian automotive market with its groundbreaking efforts, and is currently leading the e-mobility wave in India with a commanding market share of 85.8%, with over 57,000 EVs produced till date in personal and fleet segments.

more recommended stories
Triton EV Announce Hydrogen Fuel-Powered Trucks
NEW DELHI/AHMEDABAD:India’s leading clean energy-run advanced.
M&M Enter the World Index of DJSI
MUMBAI:Mahindra & Mahindra Ltd. (M&M) has.
WardWizard Unveils High-Speed Electric Scooter ‘MIHOS’
KOCHI:Taking a leap in the era.
The Award-winning Jaguar I-PACE is Now More Distinctive and More Desirable
KOCHI:Since its debut the Jaguar I-PACE.
Cummins Group in India unveils Commercial Vehicle Industry’s First Fuel Agnostic Platform
NEW DELHI:Cummins Group in India, leading.
Škoda Auto India Looks to Accelerate Growth Through 2023
MUMBAI:ŠKODA AUTO India, after having its.
Toyota Kirloskar Motor Supplies Hydrogen Fuel Cell Module
BENGALURU:In line with its mission of.
TVS Motor Company Registers Sales Of 242,012 Units In December 2022
KOCHI:TVS Motor Company registered sales of.
Honda Cars India Registers 7% Growth in Domestic Sales
NEW DELHI:Honda Cars India Ltd. (HCIL),.
Škoda Auto India Records 2022 as the ‘Biggest Year’ in India
MUMBAI:ŠKODA AUTO India ended 2022 with.