HSBC India and Tata Motors Collaborate to Finance Electric Vehicle Purchases

12 Jun 2023 , 12:25 PM

HSBC India and Tata Motors have joined forces to offer financing options for purchasing Tata Motors’ electric vehicles (EVs) to employees working in the corporate sector.

Customers with a salaried account at HSBC India will have the opportunity to apply for a customized loan to purchase an electric vehicle from Tata Motors’ EV portfolio, offering a seamless and convenient financing experience.

The collaboration includes several attractive benefits, such as zero down payment, no hypothecation, low processing fees, and no documentation charges, making the vehicle financing process simple and hassle-free.

Additionally, customers availing of this loan will receive a special accessory kit for the purchased EV from Tata Motors. The partnership aims to accelerate the adoption of sustainable mobility in India, leveraging Tata Motors’ position as a leader in the EV segment, with over 85,000 EVs already on the road.

Shailesh Chandra, MD of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility expressed the company’s commitment to providing customers with a wide range of EV options to suit their needs. HSBC India CEO Hitendra Dave highlighted the synergies between the two companies’ visions and the role they play in driving a sustainable transition towards a net-zero economy.

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