BYD India, a subsidiary of the world’s leading New Energy Vehicle manufacturer BYD, has recently entered into a Memorandum of Understanding (MOU) with Bajaj Finance Limited (BFL), the lending arm of Bajaj Finserv Ltd., a prominent financial services group in India.
This strategic partnership aims to offer comprehensive financing solutions for BYD dealers and customers across India, with the goal of promoting widespread adoption of Electric Vehicles (EVs) in the country. Leveraging BYD’s innovative range of EV products, this collaboration is set to make a significant impact in the Indian EV market.
The MOU was officially signed in the presence of representatives from BYD India and Bajaj Finance, including Sanjay Gopalakrishnan, Sr. Vice President – Electric Passenger Vehicle Business – BYD India, and Sidhaant Dadwal, President SME and Auto, Bajaj Finance.
Sanjay Gopalakrishnan, Sr. Vice President – Electric Passenger Vehicle Business – BYD India, expressed the significance of the partnership, stating, “Our collaboration with Bajaj Finance represents another important milestone for BYD India, following our recent collaborations with leading banks in the country. By partnering with Bajaj Finance, we aim to provide our valued customers and dealers with access to a diverse range of financing solutions. Recognizing their crucial role in our business, this alliance allows us to extend unwavering support to our customer base and embark on a promising journey towards a greener future in the Indian EV market.”
Sidhaant Dadwal, President SME and Auto, Bajaj Finance, added, “Electric vehicles have witnessed a surge in popularity in recent years, and BYD has been a key player in this space. The auto financing market is evolving, with customers seeking seamless access to credit. Our streamlined processes, combined with our affordability solutions such as Flexi loans, will enhance the purchasing experience for customers. We look forward to a fruitful relationship with BYD India.”
Bajaj Finance is a technology-driven Non-Banking Financial Company (NBFC) that offers a comprehensive suite of financial solutions and places a strong emphasis on enhancing the customer experience through digital platforms. Through this collaboration, Bajaj Finance’s pioneering financing solutions and extensive customer base across diverse regions will significantly bolster BYD’s presence in the Indian EV market. Furthermore, this partnership enables Bajaj Finance to diversify and strengthen its portfolio in the Indian EV financing market segment.
BYD remains committed to leveraging technological advancements to improve quality of life, promote sustainable development, and advance its ‘Cool the Earth by 1 deg C’ initiative. With the support of Bajaj Finance, BYD is well-positioned to accelerate the adoption of EVs and contribute to a greener future not only in India but also beyond its borders.
