BYD Partners With ICICI Bank To Provide Financing Solutions

Chinese automaker BYD has signed an MOU with the ICICI Bank to offer financial services to its dealers and customers in India. This will help the EV maker to increase its customer base in the country.

Currently, the BYD has only one product in the passenger vehicle space, the e6 MPV, which costs Rs 29.15 lakh (ex-showroom) and comes with a 71.7kWh li-ion battery pack that offers a WLTP-claimed range of 512km. The brand is set to launch its second product in India on October 11 in the form of an ATTO 3 electric SUV, which will go up against the MG ZS EV and Hyundai Kona Electric.

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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 creating 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 of 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.”