Tata Motors Subsidiaries Partner with Bajaj Finance
Tata Motors' subsidiaries team up with Bajaj Finance to provide easier financing for Indian vehicle dealers, aiming to expand market reach and promote their New Forever portfolio.
Mumbai- Tata Motors Limited., an automotive manufacture, subsidiaries Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM), partner with Bajaj Finance to offer supply chain finance solutions, facilitating easier financing for their vehicle dealers in India.
The 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.
TMPV and TPEM lead innovation in India's automotive sector with groundbreaking ICE and EV offerings, driven by their New Forever philosophy. Bajaj Finance, a diversified NBFC, serves over 83.64 million customers and manages assets worth ₹3,30,615 crore as of March 31, 2024.
Mr. Gupta, Chief Financial Officer, Tata Passenger Electric Mobility Ltd. and Director, Tata Motors Passenger VeDhiman hicles Ltd., said, “Our dealer partners are integral to our business, and we are happy to actively work towards solutions to help them in ease of doing business. Together, we aim to further grow the market and offer our New Forever portfolio to an increasing set of customers. To that effect, 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.”
Mr. Anup Saha, Deputy Managing Director, Bajaj Finance Ltd, said, “At Bajaj Finance, we have always strived to provide best-in-class processes by using the India stack for financing solutions that empower both individuals and businesses. Through this financing program, we will arm TMPV and TPEM’s authorized passenger and electric vehicle dealers with financial capital, which will enable them to seize the opportunities offered by a growing passenger vehicles market. 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.”
