Tata Motors ties up with Turno to offer finance for electric small commercial vehicles

Tata Motors, India's largest commercial vehicle maker, has signed a memorandum of understanding (MoU) with Finzo EV Solutions Private Limited. The company is known as Turno and describes itself as India's first battery intelligence and lifecycle management company. The aim of the agreement is to offer customised financing plans to buyers of Tata Motors' electric small commercial vehicles and pickups (e-SCVPU).

Under the partnership, Tata Motors customers will get quick loans and the benefit of flexible instalment plans. A 25 per cent assured buyback guarantee will also be offered.

Varun Nair, director at Turno, said the company's goal is to make EV ownership easy and rewarding, so that the shift to green, zero-emission mobility across India gathers speed. According to him, as electric commercial transport picks up pace, customers want a clearer picture and greater assurance about the value of their vehicle over its entire life.

Nair said the collaboration with Tata Motors meets this need by bringing together customised financing and the support of an assured buyback. This makes it easier for customers to move to electric vehicles. He also said that, on the strength of the company's experience in battery intelligence and EV lifecycle management and its buyback programme, customers' confidence in the ownership and resale of electric commercial vehicles is being raised.

Pinaki Haldar, vice president and business head of the SCVPU division at Tata Motors Limited, said Tata Motors is committed to taking clean mobility to the masses and accelerating the shift to sustainable last-mile logistics in India.

According to Haldar, the company's e-SCVPU range is built for excellent performance, dependable operation and low running costs. Even so, he said, real adoption of a vehicle grows at scale only when ownership is easy, predictable and worry-free. He said the collaboration with Turno strengthens the company's EV ecosystem by giving customers full support for ownership.