Explore Business Standard
Don’t miss the latest developments in business and finance.
Public sector Indian Bank has inked a pact with automaker Toyota Kirloskar Motor to offer vehicle financial options to its customers, the bank said on Tuesday. The tie-up would offer various initiatives including 90 per cent on-road funding with no processing fee, foreclosure and party payment charges to prospective customers. The development will now enable bank's customers, especially in the rural and semi-urban markets to buy their vehicles from Toyota Kirloskar Motor, the city-headquartered Indian Bank said in a statement here. "This is yet another step by Indian Bank to enhance banking experience of our customers. As a bank, with pan-India presence, especially in rural and semi-urban areas. This association will further boost our auto-financing segment," Indian Bank executive director Imran Amin Siddiqui said. "Digitization of loan procedures has significantly reduced the turn around time for retail loan. We are keen to provide our customers comfort and convenience, by alignin
Union minister Nitin Gadkari on Tuesday launched Japanese car maker Toyota's first-of-its-kind pilot project on flex fuel-strong hybrid electric vehicle (FFV-SHEV) that can run on 100 per cent ethanol. During the launch, the Toyota Corolla Altis FFV-SHEV, which has been imported from Toyota Brazil for the pilot project, was unveiled. Speaking on the occasion, Union Road Transport minister Nitin Gadkari said pollution is a big concern in India and the transport sector is contributing to pollution. "Therefore, there is a need to encourage use of electric vehicles and vehicles that run on biofuels like ethanol and methanol," he added. Besides Gadkari, union ministers Mahendra Nath Pandey, Bhupinder Yadav and senior officials of Toyota Kirloskar Motor were present at the event. In Brazil, flex fuel-strong hybrid electric vehicle technology has been introduced by Toyota Brazil. An FFVSHEV has a flex-fuel engine and an electric powertrain, thus providing dual benefit of higher ethanol
Japan's top automaker Toyota said on Thursday that it has identified how to fix its 2023 model year bZ4X crossover electric vehicles after recalling 2,700 of them in June out of concern that wheel bolts might become loose, risking a crash. The fix will enable Toyota Motor Corp. to resume making and selling the EVs, a key model in the company's effort to strengthen its electric lineup. Toyota officials said they hoped the fix would help restore the company's reputation for quality. The maker of the Prius hybrid and Lexus luxury models has scored great success with its hybrids and fuel cells, but it has at times been seen as a straggler in electric vehicles. The bZ in the model's name stands for a beyond zero series, referring to it being free of emissions. Toyota said new bolt parts needed to fix the problem with the bZ4X will become available for all global customers by November. The company said hub bolts and wheels of all vehicles in the recall will be replaced at no cost to ...