Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM) – subsidiaries of Tata Motors, have partnered with HSBC India, to extend supply chain financing solutions to their passenger and electric vehicle dealers. Under this agreement, the participating companies will come together to leverage HSBC India’s expertise to help dealers of TMPV and TPEM access funding at competitive terms.
Commenting on the partnership, Dhiman Gupta, Chief Financial Officer of Tata Passenger Electric Mobility and Vice President of Tata Motors Passenger Vehicles, said, “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.”
This collaboration will strengthen working capital accessibility for dealers, enabling them to seize opportunities in the growing passenger vehicles market.
Speaking on this partnership, Gaurav Sahgal, Country Head Business Banking, HSBC India, said, “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.”
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