Exclusive EV dealer financing program Part of the bank’s vision for 2024

Ahead of the upcoming festive season, Tata Motors and South Indian Bank have collaborated to introduce a special electric vehicle dealer financing program. With this collaboration, Tata Motors and South Indian Bank will offer comprehensive retail financing solutions to all EV customers.

Tata Motors is currently the leading OEM in India when it comes to electric vehicles with over 90,000 EVs produced to date (including both personal and fleet segments). Meanwhile, South Indian Bank claims to offer technology-based banking, offering many digital products and services. This collaboration is part of the bank’s Vision 2024 which focuses on the ‘six Cs’ – capital, CASA, cost-to-income, competency building, customer focus, and compliance.

Commenting on the partnership, Ramesh Dorairajan, senior general manager of network management and EV sales, at Tata Motors Passenger Vehicles Ltd. said, “Our dealer partners form an integral part in our journey towards enabling widespread EV adoption in India, and we are positive that this initiative will further allow us to democratize electric vehicles in the country.”

Murali Ramakrishnan, MD and CEO, South Indian Bank, speaking on the occasion, said, “This program will help the bank to expand its asset base and expand into newer consumer segments. We look forward to continuing our association with Tata Motors with various programs and offers to meet their dealers’ and consumers’ needs.”