HSBC India has partnered with Tata Motors to finance the purchase of the latter’s electric vehicles by corporate employees.

Consumers with a salaried account with HSBC India will be able to apply for a tailored loan to purchase an electric vehicle from Tata Motors’ EV portfolio, according to a statement from the domestic automaker.

Aside from that, with this initiative, customers can apply for a loan with no down payment, no hypothecation, a low processing fee, and no documentation charges, among other benefits, making vehicle financing simple and easy, according to the company.

Furthermore, customers who choose this loan will receive a special accessory kit for the EV purchased from Tata Motors, according to the company.

“We are collaborating with HSBC India to accelerate the country’s mass adoption of sustainable mobility.” Tata Motors is the market leader in this fast-growing segment, with over 85,000 EVs on the road.

“We are delighted to partner with HSBC India as we work towards accelerating the mass adoption of sustainable mobility in the country,” said Shailesh Chandra, MD, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility. Tata Motors is the market leader in this fast-growing segment, with over 85,000 EVs on the road. Our cutting-edge vehicles give customers the option of selecting the EV that best suits their needs. This collaboration with HSBC India will broaden the appeal and reach of customers who prefer Go.ev.”

“Our partnership with Tata Motors will help leverage the synergies of vision and drive a sustainable transition towards a net zero economy,” HSBC India CEHiO tendra Dave said.

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