Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM), subsidiaries of Tata Motors, have partnered with HSBC India to provide supply chain financing solutions to their dealers. This collaboration aims to enhance dealers’ access to competitive funding terms, thereby improving their working capital and enabling them to capitalize on the growing passenger vehicles market.
A boost to dealers of TMPV and TPEM
This partnership will leverage HSBC India’s expertise to benefit dealers of TMPV and TPEM. The objective is to strengthen working capital accessibility for dealers, aiding them in navigating the expanding automobile sector. The agreement represents a significant step towards broader finance availability and tailored banking solutions for both passenger and electric vehicle dealer networks.
Dhiman Gupta, Chief Financial Officer of Tata Passenger Electric Mobility Ltd. and Vice President of Tata Motors Passenger Vehicles Ltd., emphasized the importance of this initiative. “In the ever-evolving automobile landscape, our dealer partners are a vital cog for our business. We are committed to assist them in ease of doing business, which is why we are delighted to collaborate with HSBC India for this financing program which improves our dealers’ access to working capital. Together we are devoted to driving growth and deliver unmatched value to our customers,” Gupta stated.
Access to variety of finance and providing banking solutions
Gaurav Sahgal, Country Head Business Banking, HSBC India, highlighted the partnership’s importance. “Our partnership with Tata Motors is a significant step towards broadening the availability of finance and providing banking solutions to the passenger and electric vehicle dealer network. This will be another milestone in our long-standing relationship with Tata Motors and Tata Group, reflecting our shared vision of advancing clean and efficient transportation,” he said.
Tata Motors has been at the forefront of the Indian automobile industry, championing innovations towards safer, smarter, and greener mobility. The company offers a diverse range of vehicles powered by various fuel types, including petrol, diesel, CNG, and electric powertrains. The robust portfolio caters to different consumer needs and has garnered widespread appreciation.
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