Kotak Mahindra Prime Limited (KMPL) has been chosen as Tesla’s first preferred financer in India. The tie-up will allow customers to explore specially curated financing options for Tesla electric vehicles directly through Tesla’s India website and mobile application.
This marks the first time any financier in India has been granted “preferred” status by Tesla, offering buyers a seamless and integrated purchase experience.
Tesla’s official entry into India, marked by the launch of its Model Y and the opening of a new showroom in Mumbai, has generated excitement in the electric vehicle (EV) space. While there has been some online discussion about Tesla’s pricing, the move is widely seen as a major milestone for India’s EV sector.
Industry experts believe Tesla’s presence, even if not targeted at the mass market yet, will push innovation and raise consumer expectations in the country.
‘Proud to support Tesla’s entry,’ says KMPL CEO
“Kotak Mahindra Prime is proud to support Tesla’s entry into the Indian market,” said Shahrukh Todiwala, Managing Director and CEO of KMPL. “Tesla has redefined mobility globally, and its entry into India comes at a time when the Indian automobile industry is poised for a green revolution. At KMPL, we’ve always championed sustainable mobility through innovative financing. This partnership strengthens our commitment to enabling a more sustainable future.”
All you need to know about KMPL
KMPL is a subsidiary of Kotak Mahindra Bank, it has been a major player in India’s car finance market since 1996. The company began offering two-wheeler loans in 2018 and started loans against property in 2022. It currently operates 161 branches across 24 Indian states and partners with several automobile manufacturers as a preferred financier.
KMPL offers financing for both new and used passenger cars and two-wheelers, along with wholesale finance to auto dealers. It also provides loans against both residential and commercial properties.
The base mid-range model is currently priced at Rs 61.07 lakh (on-road, Mumbai). If you choose to buy it on EMI, your monthly installment would be approximately Rs 85,259 – calculated with a Rs 20 lakh down payment, a 5-year loan tenure and a 9% interest rate, which is fairly standard.
Tesla’s website also allows you to customise these terms to find an EMI plan that fits your needs.
