Tata Motors signs MoU with ESAF Small Finance Bank for vehicle finance

Vehicle financing: Tata Motors on Friday said it has tied up with ESAF Small Finance Bank to offer financing solutions to its commercial vehicle customers.

The entities have inked a memorandum of understanding focused on small commercial vehicles and light commercial vehicles initially, the Mumbai-based auto major said in a statement.

The partnership will further expand to include financing for the automaker's entire commercial vehicle portfolio, it added.

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

The collaboration further strengthens the company's endeavour to boost entrepreneurship and job creation, particularly in first-and last-mile logistics, he added.

Tata Motors offers an 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.