Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM), the two subsidiaries of Tata Motors Ltd., have formed a strategic alliance with Saraswat Bank, one of India's largest cooperative banks. A Memorandum of Understanding (MoU) has been signed to offer bespoke auto retail finance options to Tata Motors clients interested in purchasing both internal combustion engine (ICE) and electric cars (EVs).
The collaboration aims to make Tata Motors’ passenger vehicles more accessible by offering competitive interest rates and flexible financing options. This initiative seeks to enhance the affordability and convenience of vehicle ownership, ensuring a smoother purchasing experience for customers.
The MoU was formalised in the presence of senior officials from both organisations. Dhiman Gupta, Chief Financial Officer of Tata Passenger Electric Mobility Ltd. and Vice President of Tata Motors Passenger Vehicles Ltd., emphasised the customer-centric nature of the partnership. He stated that the collaboration with Saraswat Bank would deliver tailored financing solutions, aligning with the company's goal to make both ICE and EV models more accessible to a wider audience.
Gautam Thakur, Chairman of Saraswat Bank, expressed confidence in the partnership, highlighting its potential to offer flexible and competitive financing solutions. He also noted that this initiative supports the growing adoption of EVs in India, furthering the country's sustainability goals.
Tata Motors continues to offer a diverse portfolio of vehicles across petrol, diesel, CNG, and electric powertrains. Renowned for their quality, modern design, and functionality, these vehicles are designed to cater to the evolving needs and preferences of today's consumers. The partnership with Saraswat Bank reaffirms Tata Motors’ commitment to providing enhanced value and convenience to its customers.
