Tata Motors announced on Monday that its passenger vehicles and passenger electric mobility subsidiaries have partnered with Bajaj Finance to offer supply chain finance solutions to their respective dealers. Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM) have entered into a Memorandum of Understanding (MoU) with Bajaj Finance to facilitate dealer access to funding with minimal collateral.
This collaboration aims to leverage Bajaj Finance's extensive reach to provide enhanced financial support to TMPV and TPEM dealers. Dhiman Gupta, CFO of TPEM and Director of TMPV emphasized that the partnership will strengthen dealer access to increased working capital.
"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," stated Anup Saha, Deputy Managing Director of Bajaj Finance. He added that the partnership would not only benefit dealers but also contribute to the growth of the automotive industry in India.
