Tata Motors has signed a Memorandum of Understanding (MoU) with ESAF Small Finance Bank. The collaboration aims to offer appealing financing solutions to Tata Motors’ commercial vehicle customers.

What Happened: The partnership news was disclosed by the Tata Group company on Friday afternoon. Initially, the collaboration will focus on small commercial vehicles and light commercial vehicles (LCVs), with plans to expand to Tata Motors’ entire commercial vehicle portfolio.

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Tata Motors offers a broad range of commercial vehicles, from sub-1-tonne to 55-tonne cargo vehicles and 10-seater to 51-seater mass mobility solutions. The company assures unmatched quality and service commitment through its extensive network of over 2500 touchpoints, backed by easy access to Tata Genuine Parts.

This partnership comes on the heels of Tata Motors’ recent strategic moves. Just a week ago, the company was reported to be collaborating with online used car platforms to streamline the resale and exchange process for EV owners. This initiative is currently being tested on a small scale with online used car marketplaces.

Tata Motors shares also got an upgrade from Emkay Global. The brokerage firm upgraded the stock’s rating from "add" to "buy", with a target price of ₹1,175.

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