Tata Motors, a leading automotive manufacturer, announced on Monday that its passenger vehicles and passenger electric mobility subsidiaries have entered into a partnership with Bajaj Finance to offer supply chain finance solutions to their respective dealers.
According to a statement released by the company, Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM) will collaborate with Bajaj Finance to extend supply chain finance solutions to their passenger and electric vehicle dealers.
The Memorandum of Understanding (MoU) between the participating companies aims to leverage Bajaj Finance’s extensive reach to facilitate funding access for TMPV and TPEM dealers with minimal collateral requirements.
Dhiman Gupta, CFO of TPEM and Director of TMPV, expressed that this partnership with Bajaj Finance will enhance the dealer partners’ access to working capital, empowering them to capitalize on the growth opportunities in the passenger vehicles market.
Anup Saha, Deputy Managing Director of Bajaj Finance, emphasized that through this financing program, TMPV and TPEM’s authorized dealers will receive the necessary financial support to tap into the expanding passenger vehicles market.
Saha further highlighted that the collaboration between Tata Motors subsidiaries and Bajaj Finance will not only benefit dealers but also contribute to the overall growth of the automotive industry in India.
The partnership underscores Tata Motors’ commitment to providing comprehensive support to its dealer network and facilitating their growth in a competitive market environment.
