China based automotive manufacturer, BYD India Private Limited has recently signed a memorandum of understanding (MoU) with Axis Bank to offer a host of financial products and solutions to both its dealers and retail customers.
With this partnership, BYD India aims to provide an enhanced EV buying experience to the customers as well as dealers.
BYD currently sells two electric products in India – the new Atto 3 SUV and e6 MPV. The third offering will be the Seal electric sedan which was showcased at the Auto Expo 2023 and is expected to arrive sometime later this year.
Commenting on the tie-up, Sumit Bali, group executive, of retail lending and payments, Axis Bank, said, “We, at Axis Bank are deeply committed to driving the objective of Green Mobility financing solutions. Our strong retail banking network across India will make the overall experience accessible and seamless for them. With this association, we have further strengthened our vision to achieve the goal of green mobility and bolster sustainability in the mobility sector.”
Adding to it, Sanjay Gopalakrishnan, Senior Vice-President, BYD India, said, “The strategic tie-up gives our retail customers a gamut of financing solutions to buy our products and our dealers the access to inventory finance. This partnership will put us on the wide network of Axis Bank and help us take one step further toward our aim of facilitating EV adoption in the country. We look forward to this association, which will help build a stronger ecosystem.”