Tata Motors partners with ESAF Small Finance Bank for enhanced commercial vehicle financing solutions

ETAuto Desk ETAuto Desk | 09-21 00:20

Tata Motors signs MoU with ESAF Small Finance Bank for commercial vehicle financing
Tata Motors, India’s largest commercial vehicle manufacturer, has signed a Memorandum of Understanding (MoU) with ESAF Small Finance Bank to provide attractive financing solutions for commercial vehicle customers. The partnership, initially focused on Small Commercial Vehicles (SCVs) and Light Commercial Vehicles (LCVs), will eventually cover Tata Motors' entire commercial vehicle portfolio.

Financing solutions for commercial vehicles

Tata Motors provides a wide range of vehicles from sub 1-tonne to 55-tonne cargo vehicles and 10-seater to 51-seater mass mobility solutions. These include various small commercial vehicles, pickups, trucks, and buses aimed at meeting the evolving needs of logistics and mass mobility sectors. The company ensures quality and service through its extensive network of over 2500 touchpoints, staffed by trained specialists and supported by easy access to Tata Genuine Parts.

Vinay Pathak, Vice President & Business Head – SCV&PU, Tata Motors, highlighted the significance of this collaboration. "Our partnership with ESAF Small Finance Bank enhances access to seamless financing solutions for our customers in deeper pockets of the country. It reiterates our commitment to support our customers with tailored and efficient solutions, empowering them to meet their business goals. This collaboration further strengthens our endeavour to boost entrepreneurship and job creation, particularly in first- and last-mile logistics."

Hemant Kumar Tamta, Executive Vice President, ESAF Small Finance Bank, expressed enthusiasm about the partnership. "We are excited to partner with Tata Motors, to offer tailored financing solutions to customers. Our shared vision of empowering entrepreneurs aligns perfectly with this partnership. With our extensive network and expertise in financial inclusion, we are confident that this partnership will stimulate significant growth and support the ambitions of commercial vehicle businesses."

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