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Tata Motors enters into partnerships with private banks for commercial vehicles financing

19 Jan 2021 Evaluate

Tata Motors has entered into partnerships with leading private banks, including HDFC Bank, ICICI Bank and Yes Bank, to fund its commercial vehicles. The tie-ups aim to enhance value offerings for customers of both new as well as pre-owned vehicles throughout the customer lifecycle.

The offerings arising out of these tie-ups will include ancillary financial provisions such as fuel financing, working capital financing, aggregate financing and service cost financing. It will enable customers to avail attractive financial schemes from all the partner financiers with minimal formalities.

The other private banks include Equitas Small Finance Bank, AU Small Finance Bank, Union Bank of India and Punjab National Bank. NBFCs such as Cholamandalam Investment and Finance Co, HDB Financial Services, and Sundaram Finance are also part of the tie-ups.

Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.

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