HSBC India has teamed with Tata Motors to finance the purchase of electric vehicles by corporate personnel.
Consumers with a salary account with HSBC India will be able to apply for a tailor-made loan to purchase an electric vehicle from Tata Motors’ EV portfolio, according to a statement from the indigenous automaker.
Aside from that, with this effort, clients will be able to apply for a loan with no down payment, no hypothecation, a minimal processing fee, and no documentation charges, among other benefits, making car financing straightforward and easy, it stated.
Customers who choose this loan will also receive a special accessory package for the EV purchased from Tata Motors, according to the firm.
“We are collaborating with HSBC India to accelerate the mass adoption of sustainable mobility in the country.” Tata Motors is the market leader in this rapidly developing area, with over 85,000 EVs on the road.
“Our collaboration with Tata Motors will help leverage vision synergies and drive a sustainable transition to a net zero economy,” said HSBC India CEO Hitendra Dave.