Tata Motors Finance, a prominent automotive financing company in India, has joined forces with BluSmart Mobility, a leading electric vehicle ride-hailing service and charging infrastructure operator, to support the growth and operations of BluSmart in Delhi NCR.
As part of the collaboration, Tata Motors Finance is offering a credit facility in the form of a comprehensive financing cum lease solution. This arrangement will enable BluSmart to expand its fleet by adding 200 electric vehicles, with an estimated structured credit facility worth around Rs 25 crore.
During the signing ceremony, notable individuals including Anmol Singh Jaggi, the CEO and Co-Founder of BluSmart, Samrat Gupta, the MD & CEO of Tata Motors Finance, Anand Bang, the Chief Operating Officer, and Surinder Kamboj, the Business Head of Passenger Vehicles, were present. The event also saw the attendance of other prominent individuals and stakeholders from Tata Motors Finance and BluSmart Mobility.
Samrat Gupta expressed the commitment of Tata Motors Finance in providing tailored credit offerings to EV fleet operators within the Tata Motors Limited (TML) ecosystem, catering to their mobility expansion requirements.
Anmol Singh Jaggi expressed enthusiasm about the partnership with Tata Motors Finance, emphasizing that it will contribute to the continued growth of BluSmart. The collaboration will facilitate fleet expansion and strengthen their market presence, enabling them to provide efficient, reliable, and environmentally friendly transportation services to their customers.
Good solution by Tata Finance ; it’s a win – win for all. The savings in operating costs itself will suffice for the EMI rather they can look at equated Daily instalments as tangible savings and cash in hand per vehicle is absolute.
The driver partners too will stand to benefit. Only thing to be ensured is proper charging infra at designated places for ease of recharging This model once proved viable can be extended to many more locations