Tata Motors Passenger Vehicles Ltd. (TMPVL) and Tata Passenger Electric Mobility Ltd. (TPEM) have signed a memorandum of understanding (MoU) with UCO Bank to introduce inventory financing solutions for their authorised dealer network. The partnership is intended to improve dealers' access to working capital for managing vehicle inventory.
Under the agreement, UCO Bank will offer customised inventory funding programmes covering both internal combustion engine (ICE) and electric vehicle (EV) portfolios. The financing facility is expected to support dealers in managing inventory requirements more efficiently while strengthening the retail network's financing ecosystem.
Commenting on the partnership, Dhiman Gupta, Chief Financial Officer, Tata Motors Passenger Vehicles Ltd., said, "We are delighted to partner with UCO Bank to assist our authorised dealer partners with an exclusive inventory funding programme for both our electric and internal combustion vehicles. We believe this collaboration will further strengthen our dealers' ability to manage their inventory effectively."
UCO Bank said the collaboration is aimed at providing dealers with timely access to working capital, enabling them to manage funding requirements more efficiently and support day-to-day operations. According to the bank, the initiative is expected to strengthen its engagement with Tata Motors' passenger vehicle dealer network while supporting growth in the automotive sector.