Altigreen partners with Indian Bank to provide retail finance solution – EQ Mag
India’s leading commercial electric vehicle manufacturer, Altigreen has partnered with Indian Bank to provide its clients specialised retail financing options in an effort to ease the EV purchasing process. Indian Bank, one of the most reputable public sector banks, will now make its range of financial products available to Altigreen’s customers pan India as a result of the strategic alliance. The partnership will increase retail sales by providing clients with appealing financing options.
Sharing his thoughts on the partnership, Mr. Shalendra Gupta, Co-Founder and CFO, Altigreen said, “This collaboration with Indian Bank allows more customers to benefit from low-cost financing options for purchasing Altigreen’s best-in-class vehicles. The wide branch network of the Bank will enhance access to these loans not just in the large cities but also in Tier II and III markets. Altigreen’s objective to accelerate the adoption of electric vehicles to eliminate pollution from road transport will be furthered through this finance arrangement.
Commenting on the collaboration, Mr. Sudhir Kumar Gupta, Field General Manager, Indian Bank said, “The electric vehicle is a potential income earning opportunity, especially beyond the Tier-II cities of the country. We recognise that very few financial institutions are offering such financing options in this segment. Our partnership with Altigreen will go a long way in addressing the financial needs of such customers and enable them to join the mission of a cleaner and a greener India.”
Customers can anticipate a variety of interesting new finance solutions to make purchasing easier for preferred Altigreen EVs, with this partnership, which is anticipated to spark significant interest in the market. Retail and Captive Customers of Altigreen can obtain seamless funding at rates of interest that are competitive with those offered by other banks. Through this arrangement, customers may receive secured and responsive services according to the unique needs of every customer through all channels of choice.
Shares of Indian Bank was last trading in BSE at Rs. 290.75 as compared to the previous close of Rs. 290.10. The total number of shares traded during the day was 144704 in over 3154 trades.
Source: PTI
