Tata Motors, India’s largest commercial vehicle manufacturer, has announced the signing of a Memorandum of Understanding (MoU) with ESAF Small Finance Bank, aimed at offering customized financing solutions for its commercial vehicle customers. Initially focusing on Small Commercial Vehicles (SCVs) and Light Commercial Vehicles (LCVs), the partnership will soon extend to cover Tata Motors’ entire commercial vehicle portfolio.
Speaking on the collaboration, Vinay Pathak, Vice President & Business Head – SCV & PU, Tata Motors, said, “Our partnership with ESAF Small Finance Bank enhances access to seamless financing solutions for our customers in deeper pockets of the country. It reinforces our commitment to empowering entrepreneurs and boosting job creation, particularly in first- and last-mile logistics.”
Hemant Kumar Tamta, Executive Vice President of ESAF Small Finance Bank, expressed enthusiasm for the partnership, stating, “We are excited to partner with Tata Motors to offer tailored financing solutions to customers. Our shared vision of empowering entrepreneurs aligns perfectly with this collaboration, and we are confident it will support the ambitions of commercial vehicle businesses.”
Tata Motors, known for its wide range of commercial vehicles—from sub 1-tonne to 55-tonne cargo vehicles and mass mobility solutions—aims to further strengthen its customer service with over 2,500 touchpoints and access to Tata Genuine Parts. The partnership is expected to stimulate growth in India’s logistics and mobility sectors by offering enhanced financial access to entrepreneurs.
