Mumbai, 25th June, 2024: Tata Motors, India’s largest commercial vehicle manufacturer, has signed a Memorandum of Understanding (MoU) with Bajaj Finance Ltd., part of Bajaj Finserv Ltd., one of the country’s largest financial services groups. Bajaj Finance will offer financing solutions across the entire commercial vehicle portfolio, and customers will benefit from the company’s wide reach, competitive interest rates, flexi loan and digitally-enabled loan processing.
Commenting on this partnership, Mr. Rajesh Kaul, Vice President & Business Head – Trucks, Tata Motors Commercial Vehicles, said, “We are delighted to partner with Bajaj Finance, a company that shares our vision of providing top-notch solutions for customer delight. We are confident that their inaugural venture into commercial vehicle financing will allow them to tap the immense potential that the transportation sector brings in, and this partnership will benefit entrepreneurs across the country. With Bajaj Finance’s wide network in rural and urban areas, customers will have easy access to financing solutions as per their requirements. We look forward to providing enhanced convenience to our valued customers.”
Speaking on the development, Anup Saha, Deputy Managing Director, Bajaj Finance,“At Bajaj Finance, customer centricity is ingrained in our business ethos. We provide customers with convenient financing solutions that elevate their overall ownership experience. Our partnership with Tata Motors exemplifies this commitment. With our best-in-class process by using India stack, we aim to make the process of purchasing a commercial vehicle accessible and hassle-free. We are confident that the partnership will empower more commercial vehicle owners with financing solutions.”
Tata Motors offers an extensive range of sub 1-tonne to 55-tonne cargo vehicles and 10-seater to 51-seater mass mobility solutions, ranging in small commercial vehicles and pickups, trucks and buses segments to address the evolving needs of logistics and mass mobility segments. The company ensures unparalleled quality and service commitment through its extensive network of 2500+ touchpoints, manned by trained specialists and backed by easy access to Tata Genuine Parts.
Bajaj Finance is one of the most diversified NBFCs in India with presence across lending, deposits and payments, serving over 83.64 million customers. As of March 31, 2024, the company’s assets under management stood at ₹3,30,615 crore.
