EV manufacturer BYD India today signed an MOU with Kotak Mahindra Prime, a subsidiary of Kotak Mahindra Bank, to offer financing solutions to its dealers and customers. Under this partnership, Kotak Prime will offer vehicle financing loans basis the financial needs of BYD India’s buyers. BYD recently launched the Atto 3 electric SUV in India.
The latest partnership with Kotak Prime is aimed at further strengthening BYD India’s financing network all over the country. Kotak Prime has a wide network and vast experience in financing the entire range of passenger cars, multi-utility vehicles, pre-owned cars and two-wheelers. Its retail distribution network comprises 129 branches in 21 Indian states and union territories, as on September 30, 2022.
Commenting on the partnership, Shahrukh Todiwala, Whole-time Director & President, Kotak Mahindra Prime, said, “We are happy to be partnering with an EV brand like BYD to finance their dealers and customers. The tie-up is part of our continuous commitment to growing our vehicle financing business with a clear focus on EV space and contributing to the government’s vision of a cleaner environment and a greener India.”
Sanjay Gopalakrishnan, Sr Vice President – Electric Passenger Vehicle Business – BYD India, said, “With Kotak Prime as one of the partners for our dealers and customers’ financing needs, we are happy to extend our support to our customers who are looking for vehicle financing and be part of driving sustainability in the country.”
He further added, “This MOU is yet another step to get our vehicles closer to our customers with tailor-made customer-friendly offerings. This enhances our reach in providing competitive financing solutions to prospective customers.”