Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM), subsidiaries of India’s leading automotive manufacturer, Tata Motors, have forged a significant partnership with Bajaj Finance, a division of Bajaj Finserv Ltd., one of India’s foremost financial services conglomerates. This collaboration seeks to extend robust supply chain finance solutions to dealers handling passenger and electric vehicles.The Memorandum of Understanding (MoU), inked by Mr. Dhiman Gupta, Chief Financial Officer of Tata Passenger Electric Mobility Ltd. and Director of Tata Motors Passenger Vehicles Ltd., alongside Mr. Siddhartha Bhatt, Chief Business Officer of Bajaj Finance Ltd., heralds a new era of financial facilitation within the automotive sector.
Mr. Gupta emphasized the pivotal role of dealer partners in Tata Motors’ ecosystem, expressing optimism about enhancing market penetration and expanding the reach of the company’s acclaimed New Forever portfolio through this collaboration with Bajaj Finance.Echoing this sentiment, Mr. Anup Saha, Deputy Managing Director of Bajaj Finance Ltd., highlighted the organization’s commitment to leveraging cutting-edge financing solutions to empower businesses. He underscored the significance of this partnership in providing TMPV and TPEM’s authorized dealers with the financial impetus to capitalize on the burgeoning opportunities in the passenger vehicles market.
Renowned for its innovative strides in both internal combustion engine (ICE) and electric vehicle (EV) segments, TMPV and TPEM have consistently pushed the envelope with their pioneering New Forever philosophy, delivering segment-leading products that resonate with consumers nationwide.Bajaj Finance, with its extensive footprint in lending, deposits, and payments, serving over 83.64 million customers, stands as a stalwart in India’s non-banking financial sector. With assets under management totaling ₹3,30,615 crore as of March 31, 2024, the company’s partnership with Tata Motors signifies a collaborative effort to fuel growth and innovation in India’s automotive landscape.
