Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM) have partnered with Bajaj Finance, part of Bajaj Finserv Ltd., to offer supply chain finance solutions to its passenger and electric vehicle dealers, aiming to enhance financing options and ease of financing for dealers. Through this memorandum of understanding (MoU), the participating companies will come together to leverage Bajaj Finance’s wide reach to help dealers of TMPV and TPEM access funding with minimal collateral.
The Memorandum of Understanding (MoU) for this partnership was signed by Mr. Dhiman Gupta, Chief Financial Officer, Tata Passenger Electric Mobility Ltd. and Director, Tata Motors Passenger Vehicles Ltd.and Mr. Siddhartha Bhatt, Chief Business Officer, Bajaj Finance Ltd. Mr. Dhiman Gupta, Chief Financial Officer, Tata Passenger Electric Mobility Ltd. and Director, Tata Motors Passenger Vehicles Ltd., said, “We are excited to partner with Bajaj Finance for this financing program, which will further strengthen the access of our dealer partners to increased working capital.”
TMPV and TPEM have been pioneering in the Indian automotive market, introducing segment-leading products in both ICE and EV segments, based on their New Forever philosophy, which is highly appreciated by consumers. Mr. Anup Saha, Deputy Managing Director, Bajaj Finance Ltd, said, “We are confident that this collaboration will not only benefit dealers but also contribute to, and enhance the growth of, the automotive industry in India.”
