In a significant milestone for the Indian electric vehicle market, Kotak Mahindra Prime Limited (KMPL) has become Tesla’s first preferred financing partner in India. This strategic partnership is aimed at offering seamless and curated financing options for Tesla vehicles, directly accessible through Tesla’s official India website and mobile app.
This marks the first time Tesla has appointed a preferred financer in India. Through this exclusive collaboration, potential Tesla buyers will benefit from an integrated financing experience, simplifying the process of owning a premium electric vehicle. The financing journey — from application to EMI calculation — will be directly embedded into Tesla’s digital platforms.
Tesla recently made its official entry into the Indian market with the launch of the Model Y electric SUV and the opening of a flagship showroom in Mumbai’s Bandra Kurla Complex (BKC). This move, although not aimed at the mass market initially, has created substantial buzz and is expected to accelerate the adoption of EVs in the country.
While some online debates continue over the pricing of the Model Y — which starts at ₹61.07 lakh (on-road, Mumbai) — industry analysts see Tesla’s arrival as a watershed moment for India’s electric mobility future.
With KMPL onboard, customers can now access customised financing schemes while browsing or booking Tesla cars. Tesla’s website and app allow users to:
Adjust loan tenure and down payment
View estimated EMI plans
Compare financing scenarios instantly
For example, the base variant of the Model Y, priced at ₹61.07 lakh, can be financed with a ₹20 lakh down payment and a 5-year loan tenure at an interest rate of 9%. This results in a monthly EMI of around ₹85,259. Users can modify these inputs to personalize the plan according to their financial comfort.
Speaking on the partnership, Shahrukh Todiwala, Managing Director and CEO of KMPL, said:
“Kotak Mahindra Prime is proud to support Tesla’s entry into the Indian market. Tesla has redefined mobility globally, and its entry into India comes at a time when the Indian automobile industry is poised for a green revolution. At KMPL, we’ve always championed sustainable mobility through innovative financing. This partnership strengthens our commitment to enabling a more sustainable future.”
This statement reflects KMPL’s ongoing focus on green mobility and financial innovation in the automotive sector.
Kotak Mahindra Prime Limited is a wholly owned subsidiary of Kotak Mahindra Bank. The company has played a leading role in the Indian car finance industry since its inception in 1996. Over the years, KMPL has expanded its portfolio to include:
New and used car loans
Two-wheeler loans (since 2018)
Loans against property (residential and commercial, since 2022)
Wholesale finance for automobile dealerships
KMPL operates through 161 branches across 24 Indian states, partnering with several automobile manufacturers as a preferred financer.
Industry experts believe that Tesla’s tie-up with KMPL is not just a financial move but a strategic catalyst for the EV sector in India. Though Tesla’s products currently cater to the premium segment, their entry sets a new benchmark in terms of technology, sustainability, and consumer expectations.
The alliance is also expected to inspire other financiers and EV manufacturers to offer similarly integrated digital financing options, especially as the Indian consumer base becomes more tech-savvy and environmentally conscious.