Tata Motors collaborate with IndusInd bank for EV financing

Tata Motors announced that it has joined hands with IndusInd Bank to offer an exclusive electric vehicle (EV) dealer financing solution to its authorised passenger EV dealers. Under this scheme, IndusInd Bank will provide additional inventory funding with attractive pricing to authorised passenger EV dealers of Tata Motors.

This additional inventory funding would be over and above the ICE finance limit of the dealers. Repayment tenure will range from 60 to 75 days. Furthermore, IndusInd Bank will also offer additional limits to cater to high demand phases, which will be available to dealers 2 times in a year.

In April 2022, Tata Motors entered into an agreement with Lithium Urban Technologies, a Bengaluru-based company owned by Eversource Capital, to deploy 5000 Xpres T electric sedans for employee transportation across India.