Tata Motors, India’s largest commercial vehicle manufacturer, has entered into a Memorandum of Understanding (MoU) with Bajaj Finance Ltd., a subsidiary of Bajaj Finserv Ltd., one of the country’s leading financial services groups. Under this agreement, Bajaj Finance will provide financing solutions for Tata Motors’ entire commercial vehicle portfolio. Customers will benefit from Bajaj Finance’s extensive reach, competitive interest rates, flexible loans, and digitally-enabled loan processing.
Mr. Rajesh Kaul, Vice President & Business Head – Trucks, Tata Motors Commercial Vehicles, expressed his enthusiasm for the partnership, stating, “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.”
Anup Saha, Deputy Managing Director of Bajaj Finance, highlighted the company’s commitment to customer-centric solutions, saying, “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 a comprehensive range of commercial vehicles, from sub 1-tonne to 55-tonne cargo vehicles and 10-seater to 51-seater mass mobility solutions. This includes small commercial vehicles, pickups, trucks, and buses, catering to the evolving needs of the logistics and mass mobility segments. The company ensures unmatched quality and service through its extensive network of over 2,500 touchpoints, staffed by trained specialists and supported by easy access to Tata Genuine Parts.
Bajaj Finance is one of India’s most diversified non-banking financial companies (NBFCs), with a 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.
