MG Motor Partners With 5 Banks to Offer Financing Solutions
Signs MoUs with Kotak Mahindra, Axis Bank, ICICI Bank, Yes Bank and HDFC Bank to enhance customer experience by offering curated banking and financing solutions
New Delhi, Feb.6: In a move that underlines its commitment towards providing a heightened customer experience, MG Motor India has signed MoUs with 5 leading private banks to offer financing solutions for its customers and dealers. The MoUs were signed with Kotak Mahindra, Axis Bank, ICICI Bank, Yes Bank and HDFC Bank. This is in addition to the MoU signed with India’s leading public sector lender State Bank of India (SBI) by the company earlier this week. The partnerships will provide financing solutions to MG’s customers and dealer partners starting with its first launch. MG India will be launching its first vehicle, the Hector SUV, in Q2 2019.
Speaking on the occasion, Gaurav Gupta, Chief Commercial Officer, MG Motor India said, “Joining hands with the largest financial institutions in the country will facilitate credit to our dealer partners and customers. Through these partnerships, MG Motor India will offer term loans to its customers while also facilitating inventory funding and access to credit solutions for its dealerships.”
MG Motor India has been constantly leveraging technology to redefine customer experience ahead of the launch of its first SUV Hector by Q2 2019. The carmaker, which plans to operate 110 sales and service touch points across India ahead of the launch, is also committed to create tailor-made financial packages to meet the requirements of various customers.