BYD India signs MOU with Axis Bank to offer Financing Solutions
Chennai, India : BYD India Private Limited, a subsidiary of the world’s leading New Energy Vehicle manufacturer BYD, today, signed an MOU with Axis Bank, India’s third largest private sector bank, to offer a bouquet of financial products and solutions to its dealers and retail customers. Through this partnership, BYD India has reinforced its commitment towards providing an enhanced experience to both its customers as well as dealers.
The MoU was signed by Mr. Sanjay Gopalakrishnan, Sr. Vice President – Electric Passenger Vehicle Business – BYD India and Mr. Sumit Bali, Group Executive and Head – Retail Lending and Payments, Axis Bank.
Commenting on the strategic tie-up with BYD India, Mr. Sumit Bali, Group Executive, Head – Retail Lending & Payments, Axis Bank, said, ‘’We, at Axis Bank are deeply committed towards driving the objective of Green Mobility financing solutions. Through this partnership, we will offer best-in-class financial solutions to BYD India’s customers and dealers. 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 mobility sector.”
Mr. Sanjay Gopalakrishnan, Sr Vice President – Electric Passenger Vehicle Business – BYD India, said, “The strategic tie up with one of the country’s largest private sector bank 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 take one step further towards our aim of facilitating EV adoption in the country. We look forward to this association, that will help build a stronger ecosystem.Dealers are the front runners for our electric car sales and we are happy to support them through this tie-up. We are on track towards building a stronger ecosystem and facilitate EV adoption in our country”
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 electric passenger cars, battery energy storage, electric buses, electric trucks, electric forklifts,mobile components 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 Mumbai, Pune, Bengaluru, Hyderabad, Vijayawada, Ahmedabad, Surat, Kochi and other cities. Currently, these e-buses have been commercially operating and have taken a large market share in India. Over 700 of the All-New e6, India’s First Premium Electric MPV, have been delivered, making BYD number one in this niche market. BYD India launched the BYD-ATTO 3 on 11th October 2022, India’s First Sporty Born E-SUV. Its bookings have crossed 2,000 units and counting and has got great response from customers.
About Axis Bank:
Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses. With its 4,849 domestic branches (including extension counters) and 15,674 ATMs across the country as on 31st December 2022, the network of Axis Bank spreads across 2,734 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Axis Group includes Axis Mutual Fund, Axis Securities Ltd., Axis Finance, Axis Trustee, Axis Capital, A.TReDS Ltd., Freecharge and Axis Bank Foundation.
