Tata Motors Passenger Vehicles Ltd. (TMPV) and Tata Passenger Electric Mobility Ltd. (TPEM), both companies from Tata Group has made an announcement that a strategic partnership has been signed with UCO Bank. As per the partnership, UCO Bank will provide customized inventory funding solutions to their authorized dealers, helping them manage their working capital needs more efficiently. This MoU for this partnership was signed in the presence of senior leadership members from both Companies.
Commenting on these partnerships, Mr. Dhiman Gupta, Chief Financial Officer, Tata Motors Passenger Vehicles Ltd. said,
‘’As we work towards redefining the future of mobility, we are delighted to partner with UCO Bank to assist our authorized dealer partners with an exclusive inventory funding program for both our electric and internal combustion vehicles. Our network of dealers stands as a key pillar of support for us, and their unwavering dedication propels our journey in transforming India’s automotive landscape. We believe this collaboration will further strengthen our dealers’ ability to manage their inventory effectively and more importantly, help us deliver a seamless and memorable buying experience for our customers.”
Speaking on this partnership, Mr. Shashi Kant Kumar, General Manager, UCO Bank said,
“We are pleased to partner with Tata Motors Passenger Vehicles Ltd. (TMPV) and Tata Passenger Electric Mobility Ltd. (TPEM) in supporting its dealer ecosystem through inventory funding. Dealers play critical role in the automotive value chain and timely access to working capital is essential for sustainable business growth and operational efficiency. We believe this partnership will enable dealers to manage their funding requirements more efficiently ensuring seamless access to finance. We look forward to building a strong and mutually beneficial relationship with Tata Motors Passenger Vehicles Ltd. (TMPV) and Tata Passenger Electric Mobility Ltd. (TPEM) and its Dealer’s network while contributing to the growth of Automobile sector.”
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