Wednesday, November 30, 2022
HomeAutoTata Motors ties up with SBI for EV Passenger Vehicle Finance

Tata Motors ties up with SBI for EV Passenger Vehicle Finance

There are currently over 30,000 Tata EVs on the road in India in the individual and fleet segments. The company’s passenger vehicle EV sales in July 2022 stood at 4,022 units, a massive 566 per cent growth as compared to 604 units sold in the same month last year.

Presenting this finance scheme offer, Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd said, “To ensure that we have rapid EV adoption in the country, we have a strong network and strong It is very important to have channel partners.”

He further added that “By partnering with State Bank of India, we have taken another step in this direction. State Bank of India is India’s largest public sector bank with a wide network and we are happy to partner with them. Is.”

Shailesh Chandra said, “We wish to provide an exclusive financing program to our authorized electric passenger vehicle dealers who will play a vital role in driving the Green Mobility Mission, promoting sustainability in the country.” State Bank of India Chairman Dinesh Khara was also present during this.

He said, “We are delighted to have this tie-up with Tata Motors, as it gives us an opportunity to deepen our longstanding partnership in the dealer finance program. It helps us contribute towards a green tomorrow. also provides the satisfaction of being able.”

Dinesh Khara said, “This is because these lines of credit will be available to finance the authorized dealers of Passenger Electric Vehicles of Tata Motors. We are confident that this will go a long way towards promoting and adopting the EV culture in the country. will do.”

Let us tell you that some time back Tata Motors also partnered with Axis Bank for EV finance. However, this partnership was for EV dealers of Tata Motors and under this scheme dealers can avail of inventory funding over and above their ICE finance limit with Repo Linked Lending Rate (RLLR) linked pricing.

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