On Monday, Tata Motors announced that its passenger vehicles and passenger electric mobility subsidiaries have partnered with Bajaj Finance to offer supply chain finance solutions to their dealers. The subsidiaries of Tata Motors, Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM), have collaborated with Bajaj Finance to provide supply chain finance solutions to their dealers of passenger and electric vehicles, as per the company’s statement.Under a Memorandum of Understanding (MoU), the participating companies will collaborate to utilize Bajaj Finance’s extensive network. This collaboration aims to assist TMPV and TPEM dealers in accessing funding with minimal collateral.
The partnership with Bajaj Finance will enhance the dealer partners’ access to more working capital. This statement was made by Dhiman Gupta, TPEM CFO and TMPV Director told PTI.
“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,” Bajaj Finance Deputy Managing Director, Anup Saha said.
Saha added that this collaboration will benefit dealers and also contribute to enhancing the growth of the automotive industry in India.
