Tata Motors has signed a Memorandum of Understanding (MoU) with State Bank of India (SBI), country’s biggest public sector bank, to offer what is described as ‘unique financing solutions for the purchase of the all-new Tata Ace EV’.

Through this partnership, Tata Motors says it will leverage SBI’s strong network to make these solutions accessible to customers.

Pravin Raghavendra – Deputy Managing Director (Retail – Agri, SME & FI), State Bank of India, said: “We are proud to partner with Tata Motors in an endeavour to offer attractive financing options for the Ace EV. We are confident that the new financing scheme will help individuals and MSMEs in purchasing the state-of-the-art, eco-friendly electric mini-truck.”

Commenting on this partnership, Mr. Rajesh Kaul, Vice President, Sales & Marketing, Commercial Vehicle Business, Tata Motors, said, “We are delighted to join hands with the largest bank in the country, the State Bank of India, to offer unique, seamless financing schemes for the Tata Ace EV customers. The MoU has further strengthened our aim to make Tata Ace EV more accessible to customers. We are confident that our collaboration will fast-track our efforts towards sustainable mobility and support the nation’s net-zero aspirations.”