Tata Motors, TPEM sign MoU with UCO Bank to offer inventory funding for passenger vehicle dealers

Tata Motors Curvv

Tata Motors Passenger Vehicles Ltd. (TMPV) and Tata Passenger Electric Mobility Ltd. (TPEM) have signed a memorandum of understanding (MoU) with UCO Bank to offer customised inventory funding solutions to their authorised dealers.

According to the company’s statement, the partnership aims to help dealers manage their working capital requirements more efficiently through an exclusive inventory funding programme covering both internal combustion engine (ICE) and electric vehicles.

“As we work towards redefining the future of mobility, we are delighted to partner with UCO Bank to assist our authorised dealer partners with an exclusive inventory funding program for both our electric and internal combustion vehicles,” Dhiman Gupta, Chief Financial Officer, Tata Motors Passenger Vehicles Ltd.

“We believe this collaboration will further strengthen our dealers’ ability to manage their inventory effectively,” he added.

Shashi Kant Kumar, General Manager, UCO Bank, said, “We believe this partnership will enable dealers to manage their funding requirements more efficiently ensuring seamless access to finance.”

Tata Motors Passenger Vehicles shares closed at ₹352.60 on June 25.

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