HSBC India to provide easy financing for purchase of passenger EVs from Tata Motors.

HSBC India has announced a strategic partnership with Tata Motors to facilitate the financing of electric vehicles (EVs) for corporate employees. This groundbreaking collaboration aims to accelerate the adoption of zero-emission vehicles and promote the de-carbonization of road transport in the country.

HSBC India, a leading banking institution, and Tata Motors, a renowned automotive manufacturer, share a common vision of sustainability and environmental consciousness. By joining forces, they aspire to make electric vehicles more accessible and affordable to the masses.

Under this unique program, customers with a salaried account at HSBC India will have the opportunity to apply for a tailor-made loan to purchase an electric vehicle from Tata Motors’ extensive EV portfolio. To incentivize potential buyers, the loan scheme offers attractive benefits, including zero down payment, no hypothecation, low processing fees, and zero documentation charges. These features are designed to streamline the EV buying process and make it more appealing to prospective customers.

One standout advantage for customers opting for this loan is the inclusion of a special accessory kit for their Tata EVs. This additional feature adds value to the overall package, enhancing the ownership experience and showcasing the commitment of HSBC India and Tata Motors to customer satisfaction.

Commenting on this partnership, Mr. Shailesh Chandra, MD, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility said, “We are delighted to partner with HSBC India as we work towards accelerating the mass adoption of sustainable mobility in the country. With over 85,000 EVs on road, Tata Motors is the leader in this fast-growing segment. Our new age vehicles offer customers with the choice to select the EV that best meets their purpose. This partnering with HSBC India will further expand the appeal and reach of customers preferring to Go.ev”

Commenting on this new offering, Hitendra Dave, CEO, HSBC India said, “The road transportation sector in India is a significant contributor to the overall quantum of carbon emissions in the country. It is therefore, imperative that we move quickly and support the mass adoption of electric vehicles. For this to happen, all the stakeholders in the ecosystem need to come together as a unifying force and support this transition. Our partnership with Tata Motors, India’s leading EV maker, will help leverage the synergies of vision and help drive a sustainable transition towards a net zero economy.”

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