Tata Motors Partners with ESAF Small Finance Bank to Boost Commercial Vehicle Financing

Tata Motors has teamed up with ESAF Small Finance Bank to provide financing solutions for its commercial vehicle customers. The collaboration initially focuses on small and light commercial vehicles, with plans to expand to the entire portfolio. The partnership aims to promote entrepreneurship and job creation in logistics.

Tata Motors announced on Friday an alliance with ESAF Small Finance Bank to offer financing solutions tailored for its commercial vehicle customers.

The memorandum of understanding between the two entities initially targets small commercial vehicles and light commercial vehicles, according to a statement from the Mumbai-based auto giant.

This collaboration is poised to extend covering the entire commercial vehicle lineup of Tata Motors, enhancing access to financing solutions across the region.

'Our partnership with ESAF Small Finance Bank enhances access to seamless financing solutions for our customers in deeper pockets of the country,' stated Vinay Pathak, Vice President & Business Head - SCV & PU at Tata Motors.

Pathak added that this collaboration strengthens the company's initiative to bolster entrepreneurship and job creation, especially in first-and last-mile logistics.

The company's varied range includes sub 1-tonne to 55-tonne cargo vehicles and 10-seater to 51-seater mass mobility solutions, catering to the evolving logistics and mass mobility needs.

(With inputs from agencies.)