Indian Bank, Tata Motors sign MoU for sustainable mobility in logistics
The focus is on offering tailored financing solutions for commercial vehicles, including LNG and electric options.
Source: TATA Motors
In order to provide appealing financing options to Tata Motors' commercial vehicle customers and licenced dealerships nationwide, Indian Bank has inked a Memorandum of Understanding (MoU) with the vehicle manufacturer. The bank will provide simplified credit processing, attractive interest rates, and tailored financial solutions.
Commenting on the initiative, Rajesh Kaul, Vice President & Business Head, Trucks, Tata Motors, said, “By streamlining credit access and offering seamless financing options, we aim to strengthen the financial ecosystem for our dealer network, helping them scale their business while providing enhanced convenience to our valued customers.”
Through this partnership, Tata Motors will be able to offer customized financial solutions for its entire line of commercial vehicles, including its electrified and LNG (liquefied natural gas) models. Additionally, Tata Motors and Indian Bank will greatly expand their dealer finance collaboration.
Speaking on this announcement, Ashutosh Choudhury, Executive Director, Indian Bank, said, “Our financial packages will help both customers and dealers achieve their business objectives while enhancing overall financial efficiency. We look forward to working closely with Tata Motors to help their customers achieve their business goals.”
Tata Motors offers 10-seater to 51-seater mass mobility options and sub-1-tonne to 55-tonne freight vans. Through its Sampoorna Seva 2.0 project, the company provides value-added services for comprehensive vehicle lifecycle management. Tata Motors introduced Fleet Edge, a connected vehicle platform for optimal fleet management. This innovative platform empowers operators to increase vehicle uptime and significantly reduce total ownership costs.
