HDFC Bank introduces a new electric-vehicle (EV) loan structure that finances the vehicle body and the battery separately. The arrangement is designed to let customers tailor their repayment options, including how EMIs are set and potentially extending the period for repaying the battery component.
Both reports describe the move as a response to the way EV pricing is shaped by battery costs, which they say make EV upfront prices higher than those of comparable internal-combustion-engine vehicles. By breaking the loan into different parts, the bank aims to reduce the pressure of high initial purchase costs and make financing more flexible for prospective EV buyers.
Across the two outlets, the emphasis is broadly on affordability and customization of repayments. The story frames the product as supporting wider efforts to increase EV adoption in India, including targets for ownership growth by 2030.
