Divyank Kushagra Bansal 
To improve the ease of financing, Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM), subsidiaries of Tata Motors, have signed a memorandum of understanding (MoU) with Bajaj Finance, an NBFC under Bajaj Finserv Ltd., to extend supply chain finance solutions to its passenger and electric vehicle dealers.
With this, Tata Motors aims to leverage Bajaj Finance’s wide reach to help its PV and EV dealers access funding options with minimal collateral. Bajaj Finance currently serves over 83.64 million customers, and as of March 31, 2024, the company’s assets under management stood at ₹3,30,615 crore.
The MoU was signed by Dhiman Gupta, Chief Financial Officer of TMPV and TPEM, and Siddhartha Bhatt, Chief Business Officer of Bajaj Finance Ltd.
Commenting on the partnership, Dhiman Gupta said, “Our dealer partners are integral to our business, and we are happy to actively work towards solutions to help them in ease of doing business…we are excited to partner with Bajaj Finance for this financing program, which will further strengthen the access of our dealer partners to increased working capital.”
To this, Anup Saha, Deputy MD of Bajaj Finance Ltd., added, “…through this financing program, 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. We are confident that this collaboration will not only benefit dealers but also contribute to, and enhance the growth of, the automotive industry in India.”
