India’s passenger EV market will hot up in next 3-4 years
Currently Tata Motors held over two-thirds of the country's EV market, but Mahindra & Mahindra and BYD are emerging players in the Indian market.
Tata Motors on Friday said it has rolled out finance offers called ‘Step Up’ scheme where the customers can choose and buy from its range of passenger cars in the country.
The company collaborated with IndusInd Bank. A special low EMI options scheme will be offered for the first 3-6 months as part of this partnership.
“The recent COVID-19 upsurge has impacted everyone, and to help our passenger car family in these challenging moments, we are delighted to be partnering with IndusInd Bank to roll out special finance schemes,” Tata Motors Passenger Vehicles Business Unit Head Network Management and Trade Finance Ramesh Dorairajan said in a statement.
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This aligns with the company’s constant effort to fast track the availability of safe personal mobility solutions to individuals and families at pocket-friendly rates, he added.
At IndusInd, we believe in staying agile and responding to customer needs in keeping with emerging demand indicators.
These innovative financial schemes aim to reduce the burden on the customer’s wallet during these tough times and allow them to prioritise commuting in a hygienic, safe and comfortable environment. We take pride in joining hands with Tata Motors to roll out these schemes, IndusInd Bank Executive Vice President (Passenger Vehicles) T A Rajagoppalan, said.
Under the Step Up scheme, customers can now avail EMI options lowered by 60 per cent, starting from Rs 834 per lakh per month, depending on the scheme and the products at an attractive interest rate.
As per the scheme, the EMI payments will remain lower for 3-6 months, depending on the buyer’s convenience. This will be provided with non-income proof funding and flexible tenor options ranging from 1 to 7 years, depending on the product and variant.
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