Tata Motors and Axis Bank introduce EV dealer financing program

- The new program limits extended towards EVs will be over and above regular dealer finance limits for Internal Combustion Engines (ICE)

- The additional limit to cater to peak seasons can be extended three times a year

Tata Motors has joined hands with Axis Bank to offer an EV dealer financing solution to its authorized passenger EV dealers. Under this scheme, dealers can avail inventory funding over and above their ICE finance limit with pricing linked to Repo Linked Lending Rate (RLLR). 

According to Tata Motors, the repayment tenure for this program will range from 60 to 75 days. Additionally, the bank will offer an additional limit to cater to the high-demand phases, which will be available to dealers three times a year.

Speaking on the occasion, Ramesh Dorairajan, Senior General Manager, Network Management and EV Sales, Tata Motors Passenger Vehicles, said, “We are extremely elated to associate with Axis Bank for this exclusive financing program for our authorised electric passenger vehicle dealers. Our dealers have been in lock-step with us in our journey to enabling widespread EV adoption in the country. We are positive that this initiative will further support our vision to achieve the goal of green mobility and bolster sustainability in the mobility sector in the country.”