Axis Bank partners with Tesla to offer EV financing in India

Axis Bank Limited has partnered with Tesla as a preferred financier to provide customised auto loan solutions for customers purchasing the electric vehicle manufacturer’s cars in India. The collaboration aims to simplify electric vehicle (EV) financing through tailored repayment options and a digital onboarding process, according to a joint announcement issued on March 4.

Under the partnership, Axis Bank will offer curated auto loan products designed for customers purchasing Tesla vehicles in the premium EV segment. The financing options include repayment structures aligned with individual customer cash flows, loan tenures of up to 10 years and faster loan sanctioning through a digital-first onboarding process.

The financing facility will be available across major metropolitan cities and emerging EV hubs across India. The offering is aligned with Tesla’s customer ownership experience framework.

Munish Sharda, Executive Director of Axis Bank, said the collaboration is intended to support the growth of electric mobility in India. He stated that the partnership combines Tesla’s electric vehicles with tailored financing solutions and streamlined customer engagement, enabling customers to adopt sustainable mobility with greater convenience and flexibility.

According to the bank, the partnership also aligns with its broader focus on responsible banking and the development of future-ready financial products.

The arrangement comes at a time when EV adoption is increasing in India, with financial institutions introducing specialised lending products for the sector. The partnership positions Axis Bank among the early major private sector banks to establish a direct financing arrangement with Tesla in the Indian market.

Photo credit: Axis Bank