BYD India, a subsidiary of the new energy vehicle manufacturer BYD, signed an MOU with the ICICI Bank to offer financing solutions for its dealers and customers. Under this partnership, ICICI Bank will provide a bouquet of financial products and solutions to BYD India’s dealers and retail customers.
Commenting on the tie-up, Hemant Nagpal, Product Head- Vehicle Loans & Dealer Funding, ICICI Bank, said, “We at ICICI Bank believe that electric vehicles will contribute significantly to create sustainable and environment-friendly mobility ecosystem. Our partnership is a step towards enabling a greener India.”
Sanjay Gopalakrishnan, Sr Vice President – Electric Passenger Vehicle Business – BYD India, said, “With the tie-up with ICICI Bank, we are a step closer towards building a strong sustainable ecosystem, where our dealers will have more access to financing solutions.”
The Indian government is targeting 30 percent EV penetration for the PV segment by 2030 and is aiming to achieve net-zero emissions by 2070. Driven by these goals, BYD aims to work closely with its partners to provide localised and green products for the local market.
Also read: BYD India opens Passenger Vehicle Showroom in Bengaluru
Recently, BYD India has also piloted pure e-buses in Delhi NCR, Mumbai, Bengaluru, Hyderabad and other cities. Currently, BYD’s e-buses have been commercially operating and have taken a large market share in India.
The company, last month has also delivered over 450 e6 eMPVs, the first premium eMPV and the only electric vehicle powered by the blade battery in India.
Read more: BYD delivers over 450 e6 vehicles across India
