Tata Motors has signed a memorandum of understanding (MoU) with Finzo EV Solutions Pvt. Ltd., which operates as Turno, to offer customised financing to buyers of its electric small commercial vehicles and pickups (e-SCVPU).
Under the partnership, Tata Motors customers will get quick loan disbursals, flexible repayment plans and a 25% assured buyback guarantee. Turno describes itself as India’s first battery intelligence and lifecycle management company.
Mr. Varun Nair, Director at Turno, said customers moving to electric commercial vehicles need more clarity about what their vehicle will be worth over its life. The partnership with Tata Motors, he said, combines financing with assured buyback to make the switch easier. “By leveraging our expertise in battery intelligence and EV lifecycle management, along with our assured buyback programme, we are building greater certainty around the ownership and resale journey of electric commercial vehicles,” he said.
Mr. Pinaki Haldar, Vice President and Business Head – SCVPU at Tata Motors, said wider adoption depends on making ownership “simple, predictable, and worry-free.” He said that by removing financing hurdles and protecting resale value, the tie-up would help customers across the country move to zero-emission vehicles with more confidence.
Tata Motors’ electric small commercial range includes the Ace Pro EV, the Ace EV 1000 and the Intra EV Pickup, offered in several load deck and payload options. The company says its customers can use more than 25,000 public chargers in over 150 cities and over 200 dedicated EV support centres. Its support also includes the Sampoorna Seva 2.0 lifecycle care programme, the Fleet Edge connected vehicle platform, and tie-ups with banks, NBFCs and mobility financiers.
