Tata Motors has signed a Memorandum of Understanding (MoU) with State Bank of India (SBI), the country's largest public sector bank, to provide 'unique financing solutions for the purchase of the all new Tata Ace EV'. Tata Motors says it will use SBI's extensive network to make these solutions available to customers through this partnership.

"We are proud to partner with Tata Motors in an effort to offer attractive financing options for the Ace EV", said Pravin Raghavendra, Deputy Managing Director (Retail Agri, SME & FI), State Bank of India. We are confident that the new financing scheme will assist individuals and SMEs in purchasing the cuttingedge, environmentally friendly electric mini truck".

Commenting on this partnership, Mr. Rajesh Kaul, Vice President, Sales & Marketing, Commercial Vehicle Business, Tata Motors, said, “We are delighted to join hands with the largest bank in the country, the State Bank of India, to offer unique, seamless financing schemes for the Tata Ace EV customers. The MoU has further strengthened our aim to make Tata Ace EV more accessible to customers. We are confident that our collaboration will fast-track our efforts towards sustainable mobility and support the nation’s net-zero aspirations”.