Tata Motors’ subsidiaries, Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM), have forged a partnership with Bajaj Finance, a prominent entity under Bajaj Finserv Ltd. This collaborative effort aims to extend supply chain finance solutions to dealers of passenger and electric vehicles, facilitating their operations with minimized collateral requirements.Under the Memorandum of Understanding (MoU) signed for this endeavor, TMPV and TPEM will leverage Bajaj Finance’s extensive reach to provide dealers with enhanced access to funding, thereby streamlining their business operations.
Mr. Dhiman Gupta, Chief Financial Officer of Tata Passenger Electric Mobility Ltd. and Director of Tata Motors Passenger Vehicles Ltd., emphasized the significance of supporting dealer partners for sustainable business growth. He expressed excitement about the partnership with Bajaj Finance, highlighting its potential to bolster the market and expand the reach of Tata Motors’ New Forever portfolio. Similarly, Mr. Anup Saha, Deputy Managing Director of Bajaj Finance Ltd., underscored their commitment to offering top-tier financial solutions that empower businesses. He asserted that the collaboration will equip authorized dealers with the necessary financial capital to capitalize on the burgeoning passenger vehicles market in India.
Tata Motors’ TMPV and TPEM have been at the forefront of innovation in both ICE and EV segments, guided by their New Forever philosophy, which emphasizes cutting-edge product offerings tailored to consumer preferences.Bajaj Finance’s extensive presence and diversified services across lending, deposits, and payments position it as a key player in India’s financial landscape, with assets under management reflecting its substantial market influence.
