Tata Motors signs MoU with ESAF for commercial vehicle financing
Mumbai, 23 September 2024: Tata Motors, India’s largest commercial vehicle manufacturer, has signed a Memorandum of Understanding (MoU) with ESAF Small Finance Bank, to offer attractive financing solutions to its commercial vehicle customers. Initially focused on Small Commercial Vehicles (SCVs) and Light Commercial Vehicles (LCVs), the partnership will expand to include financing for Tata Motors’ entire commercial vehicle portfolio.
Mr. Vinay Pathak, Vice President & Business Head – SCV&PU, Tata Motors, said, “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.”
Commenting on the partnership, Mr. Hemant Kumar Tamta, Executive Vice President, ESAF Small Finance Bank said, “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.”
Tata Motors offers 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.
