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 dealers.
The collaboration involves Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM) working together with Bajaj Finance to provide financial support to dealers of both passenger and electric vehicles.
This partnership aims to help dealers access funding with minimal collateral.
A Memorandum of Understanding (MoU) was signed, allowing the companies to use Bajaj Finance’s extensive network to benefit TMPV and TPEM dealers.
This move is expected to increase the working capital available to dealer partners, according to Dhiman Gupta, CFO of TPEM and Director of TMPV.
