Under this scheme, ICICI Bank will provide inventory funding to the authorised passenger EV dealers of Tata Motors.

This inventory funding is in addition to the Bank’s funding to dealers for diesel and petrol models. Under this facility, the EV dealers can avail flexible repayment tenures.

Tata Motors, India’s leading automotive manufacturer, has announced its partnership with ICICI Bank to offer an EV Dealer Financing solution to its authorised passenger EV dealers.

Under this scheme, ICICI Bank will provide inventory funding to the authorised passenger EV dealers of Tata Motors.

This inventory funding is in addition to the Bank’s funding to dealers for diesel and petrol models. Under this facility, the EV dealers can avail flexible repayment tenures.

The MoU for this partnership was signed by Mr. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd., and Tata Passenger Electric Mobility Ltd. and Mr. Rakesh Jha, Executive Director, ICICI Bank Ltd.