Tata Motors partners with South Indian Bank for commercial vehicle financing

30 Apr 2024 , 01:47 PM

Tata Motors has partnered with South Indian Bank to provide financing solutions for its commercial vehicle customers and dealerships. Under the Memorandum of Understanding (MoU), South Indian Bank will offer financing solutions covering Tata Motors’ entire commercial vehicle portfolio.

At the time of writing, Tata Motors’ stocks were trading at 1015.25, reflecting a 1.46% gain compared to the previous close. Over the past year, the stock has gained 111.40%, and since the beginning of the year, it has risen by 28.42%.

Rajesh Kaul, Vice President & Business Head Trucks of Tata Motors Commercial Vehicles, highlighted the importance of easy financing access for customers’ operations, aiming to support fleet owners and dealerships in achieving their business objectives.

Tata Motors offers a wide range of commercial vehicles, including cargo vehicles ranging from sub 1-tonne to 55-tonne capacity, as well as mass mobility solutions ranging from 10-seater to 51-seater vehicles, spanning small commercial vehicles, pickups, trucks, and buses.

P R Seshadri, MD & CEO of South Indian Bank, emphasized that the collaboration with Tata Motors allows them to provide seamless vehicle financing solutions to commercial vehicle dealers and customers.

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