Tata Motors and SBI have inked an MoU to provide financing solutions for Tata Ace EV

Tata Ace EV is India's most advanced, zero-emission, four-wheel commercial vehicle. Under this agreement, Tata Motors will leverage SBI's broad network to make these solutions accessible to customers.

Tata Motors and the State Bank of India (SBI) have inked a Memorandum of Understanding (MoU) to provide unique financing solutions for the purchase of the all-new Tata Ace EV. Tata Motors is India's largest commercial vehicle manufacturer and State Bank of India (SBI) is the country's leading public sector bank.

Tata Ace EV is India's most advanced, zero-emission, four-wheel commercial vehicle. Under this agreement, Tata Motors will leverage SBI's broad network to make these solutions accessible to customers.

"We are happy to partner with Tata Motors in an effort to offer competitive financing alternatives for the Ace EV," stated Mr Pravin Raghavendra, Deputy Managing Director (Retail - Agri, SME & FI), State Bank of India.

"We are convinced that the new financing program will assist consumers and SMEs in obtaining the cutting-edge, environmentally friendly electric mini-truck," he added

Mr Rajesh Kaul, Vice President, Sales & Marketing, Commercial Vehicle Business, at Tata Motors, stated that, "We are delighted to join hands with the largest bank in the country, to offer unique, seamless financing schemes for the Tata Ace EV customers. We are optimistic that our collaboration will accelerate our efforts toward sustainable mobility and help the nation achieve its net-zero goals."

The Ace EV is supported by a precisely designed ecosystem and comes with a complete solution for hassle-free e-cargo mobility as well as a 5-year regular maintenance plan.

The Ace EV's supporting ecosystem includes charging infrastructure development and deployment, the establishment of dedicated Electric Vehicle Support Centres, the deployment of Tata Fleet Edge, support of Tata UniEVerse, the proven enabling eco-system, and funding partnerships with the country's leading financiers.