BYD India partners with ICICI Bank to offer financing solutions
Dealers and customers can avail tailor made financing solutions from ICICI Bank
October 06, 2022
Chennai, India - BYD India Private Limited, a subsidiary of the world's leading New Energy Vehicle manufacturer BYD, signed an MOU with the ICICI Bank to offer financing solutions for its dealers and customers. This move underlines BYD India's commitment towards providing an improved customer experience. 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, Mr. 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. We are delighted to partner with BYD to provide comprehensive financial solutions to its dealers and retail customers. Our partnership is a step towards enabling a greener India."
Mr. 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. While we contribute to the country's EV adoption, we also want to enhance our customers' purchase experience along with good finance options. We have recently started our dealership across key markets in India and are all set to get further closer to our customers and are happy that this tie up will help our customers make the right choice for a sustainable drive."
About BYD India
BYD India was established in March 2007 in Chennai, India, with an office in New Delhi. The Indian subsidiary has two factories, covering more than 140,000 sqm, with a cumulative investment of over $200
million. The business covers mobile components, battery energy storage, electric buses, electric trucks, electric forklifts, etc. BYD India provides customers with product solutions and related after-sales services.
Formulating the strategic layout of BYD India and even South Asia, BYD India has gradually developed into the regional headquarters of South Asia, realising the group's localisation strategy in this region. With joint efforts of local partners, e-buses powered by the technology of BYD battery, powertrain, and chassis are successfully deployed in Delhi NCR, Mumbai, Bengaluru, Hyderabad, Vijayawada, Ahmedabad, Kochi, Chennai, and other cities. Currently, these e-buses have been commercially operating and have taken a large market share in India. Over 500 numbers of All-New e6, India's First Premium Electric MPV has been delivered to markets, which enables BYD become the number 1 in this Niche market.