- ICICI Bank extends facility for EVs, in addition to funding for diesel and petrol models

- TataMotors currently retails three electric cars including the NexonEV, Tigor EV, and Tiago.EV

Tata Motors has announced its partnership with ICICI Bank, to offer EV dealer financing solutions to its authorised passenger EV dealers. Under this scheme, ICICI Bank will provide inventory funding to authorised passenger EV dealers of Tata Motors.

According to Tata Motors, this inventory funding is in addition to the bank’s funding to dealers for diesel and petrol models. Under this facility, EV dealers can avail of flexible repayment tenures. The company currently retails three electric vehicles in India, namely the Tiago.EV, Tigor EV, and the Nexon EV.

Commenting on the partnership, Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility (TPEML), 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.”