Tata Motors, Bajaj Finance to partner for providing financing to dealers

21 May 2024 , 08:40 AM

On Monday, Tata Motors announced that its divisions for passenger cars and passenger electric mobility have partnered with Bajaj Finance to offer supply chain finance options to their respective dealers. According to a statement from the firm, Bajaj Finance has partnered with Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM), two of the company’s subsidiaries, to offer supply chain finance solutions to its dealers of passenger and electric vehicles.

It further stated that under a Memorandum of Understanding (MoU), the participating businesses will band together to take advantage of Bajaj Finance’s extensive network in order to assist dealers of TMPV and TPEM in obtaining credit with little to no collateral.

According to TPEM CFO and TMPV Director Dhiman Gupta, the dealer partners’ access to more operating cash will be strengthened by the cooperation with Bajaj Finance.

“Through this financing programme, we will arm TMPV and TPEM’s authorised passenger and electric vehicle dealers with financial capital, which will enable them to seize the opportunities offered by a growing passenger vehicles market,” Anup Saha, Deputy Managing Director of Bajaj Finance.

According to Saha, this partnership will not only help dealers but also advance and strengthen the expansion of the Indian car sector.

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