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Tata Motors: Tata Motors ties up with HDFC Bank for financing of passenger vehicles

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New Delhi: Tata Motors on Saturday said it has collaborated with HDFC Bank for financing of its passenger vehicles.

Through the partnership, the company said it has introduced two new schemes — ‘Gradual Step Up Scheme’ and ‘TML Flexi Drive Scheme’ with an eye on making its products more accessible and driving up sales in the festive season.

The schemes will be available till the end of November 2020 and can be redeemed on the entire new BS-VI range of cars and SUVs along with the company’s EV range, Tata Motors said in a statement.

Under the Gradual Step Up scheme, customers can avail EMI options as low as Rs 799 per lakh per month, depending on the product and variant. The EMI payments gradually increase over a period of 2 years depending on the payment convenience of the buyer, it added.

Flexi Drive scheme offers the option to the consumer to choose any three months every year, where s/he can pay a minimum EMI of Rs 789 per lakh per month, depending on the product and variant as per convenience.

This is aimed at helping customers map their EMI payment properly so that they can tide over the high outflow months easily, giving them the flexibility and power to choose, the company said.

Commenting on the collaboration, Tata Motors Head – Marketing, Passenger Vehicle Business Unit Vivek Srivatsa said, “This is in alignment with our constant endeavour to make safe personal mobility solutions more affordable and accessible to individuals and families, while contributing to the joy of this year’s festive season.”

HDFC Bank Country Head – Retail Lending Arvind Kapil said, “We believe this partnership offers affordable and viable financing solutions, in that, creating a valuable proposition for our customers, thereby facilitating the ownership of their dream car.”

Tata Motors said it is also providing up to 100 per cent ex-showroom financing on the entire PV product range under both schemes.


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Ather Energy rolls out assured buyback scheme for e-scooter model

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Mumbai, Oct 20 () Electric vehicle maker Ather Energy on Tuesday rolled out an “assured” buyback scheme, the first of its kind in the domestic EV space, for its 450X e-scooter model, which is set to hit the road next month. Besides, the Bengaluru-based start up, which is 34.58 per cent owned by two-wheeler market leader Hero MotoCorp, also announced cutting prices of Ather 45Plus model by Rs 9,000.

Under the assured scheme, aimed at accelerating EV adoption in the country, Ather Energy will buy back Ather 450X e-scooter at Rs 85,000, at the end of three years, Tarun Mehta, co-founder and CEO, Ather Energy, said at a virtual press conference.

The company revised its subscription plans, offering more flexibility to customers, starting at Rs 125 per month.

Ather Energy has built its own li-ion battery packs and an overall robust platform in the Ather 450 product line.

The reliability of the product line has been tested since 2018 in Bengaluru and later in Chennai, and on seeing the high consistency in performance, Ather Energy has launched a unique buyback plan, the company said.

The high reliability of the product will ensure that the scooters will command a strong value in the resale market, as witnessed by existing owners of Ather 450, it added.

The revised subscription plans now offer four independent packs that the customer can choose from based on their usage–Connect Lite (for all basic connected features), Connect Pro, Service Lite (periodic maintenance, roadside assistance and labour) and Service Pro (premium service experience), according to the company.

Ather has also made the charging at public charging points, Ather Grid, free till March next year, Mehta said.

“Our faith in our product line has allowed us to create innovative solutions to make the switch to electric, easier – whether it is purchase or ownership. We believe Ather Energy’s electric scooters are going to have a fantastic value for years and will keep improving with new features which we will roll out as over the air upgrades. And to strengthen that assurance we are announcing a resale guarantee,” Mehta said.

Aside from the new buyback programme, Ather Energy has also improved some of the purchase enabling solutions for the launch of Ather 450X, it said, adding post the success of the lease model in Bengaluru and Chennai, the company will be extending the same for the Ather 450X across all cities.

The model allows the customers to access a fully loaded Ather 450X at a lower price point and a nominal monthly fee.

In the current economic context, this might be significant for a segment of customers who are unwilling to opt for a full purchase, Ather Energy said.

To reduce the overall cost of ownership of the 450X model, Bengaluru consumers can exchange their old petrol internal combustion engine-powered 2-wheeler and others can opt for low interest rate loans from multiple partners that the EV start up has tie-ups with, it said.

The revised price of Ather 450 Plus now stands at Rs 1,39,990 (ex-showroom) from Rs 1.49 lakh earlier, Ather Energy said.


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Mercedes-Benz to start local assembly of vehicle range AMG in India

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New Delhi: German luxury car maker Mercedes-Benz on Tuesday said it will start local assembly of its performance vehicle range AMG in India. The first Mercedes-AMG product to roll out of the assembly line from Mercedes-Benz India’s plant at Chakan in Pune will be the AMG GLC 43 4MATIC Coupe, the company said in a statement.

Mercedes-Benz India Managing Director and CEO Martin Schwenk said, “The decision to locally produce AMG in India underlines Mercedes-Benz’s clear road map for the Indian market and our long-term commitment to our Indian customers. We want AMG to be more accessible to the potential customers and play a bigger role in our overall portfolio we offer in India.”

He further said this decision is an important milestone towards strengthening the company’s AMG ambitions in India further.

The AMG brand over the years has become synonymous with performance motoring in India and remains highly aspirational, Schwenk said.

Mercedes-Benz’s performance sub-brand AMG has a wide portfolio of performance limousines, performance SUVs, SUV Coupes, and sports cars in India. The AMG brand has a dedicated retail presence through the AMG Performance Centres located across Indian metros.

On the decision to start with the local assembly of the AMG GLC 43 4MATIC Coupe, he said it is an important model in the company’s portfolio having the distinction of being one of the highest selling AMG models in India.

“We are proud to introduce this dynamic SUV Coupe for our Indian customers now in its ‘made in India’ version. The addition of the stylish AMG GLC 43 Coupe will further cement our strong position in the performance SUV segment,” he said.

The company is confident that the launch of the locally produced AMG GLC 43 4MATIC Coupe will drive in value and aspiration for customers and help the model retain its top preference among the discerning AMG customers, Schwenk said.

Till date, Mercedes-Benz India locally produces Mercedes Maybach S 560, S-Class, E-Class Long Wheelbase, CLA, C-Class and the GLA, GLC, GLC Coupe, long wheelbase GLE G350d and GLS luxury SUVs.

The company’s completely built imported cars portfolio includes the V-Class, CLS, C-Class Cabriolet, the G 350d, the EQC and the other products of the AMG range.


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TVS NTORQ 125 Avengers price: TVS Motor launches Marvel’s Avengers inspired scooter priced at Rs 77,865

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TVS Motor Company on Tuesday launched its Marvel’s Avengers inspired TVS NTORQ 125 SuperSquad Edition scooter priced at Rs 77,865 (ex-showroom Delhi). The company has associated with Disney India’s consumer products business to introduce the special SuperSquad edition, TVS Motor said in a regulatory filing. The special edition brings forth finer nuances associated with each Marvel Super Hero through the product design, it added.

“We have all had our favourite Super Hero, with whom we relate. We find ways to celebrate this relationship. The TVS NTORQ 125 SuperSquad Edition, gives new expression to this ageless fascination,” TVS Motor Company Vice President (Marketing) – Commuter Motorcycles, Scooters and Corporate Brand Aniruddha Haldar said.

The scooter will have the SuperSquad logo and the iconic Avengers’ ‘A’ prominently placed on the front panel, leg shield, and below the speedometer. The scooter is powered by a 125 cc engine. The company further said its TVS Connect App of the SuperSquad Edition is powered by SmartXonnect and will come with a customised user interface inspired by the Avengers’ characters.


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