BYD India Pvt. Ltd., a subsidiary of the Warren Buffett-backed New Energy Vehicle manufacturer BYD, has signed a pact with HDFC Bank towards stock financing solution to its pan India dealer network.
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The strategic tie-up will provide BYD’s dealers access to inventory finance for the electric cars, BYD India said in a statement.
“We believe in creating an eco-system that brings original equipment manufacturers, dealers and financiers together thus enabling customers to purchase their electric vehicle,” said Vikas Pandey, business manager, Auto Loan, HDFC Bank.
“The strategic tie-up with HDFC Bank gives our dealers the access to inventory funding and cash credit and also helps them manage other expenses,” said Sanjay Gopalakrishnan, senior V-P, Electric Passenger Vehicle Business, BYD India.