The country’s leading urban cooperative bank, Saraswat Cooperative Bank, has joined hands with Tata Motors in a bid to promote the adoption of electric vehicles (EVs). Announcing the partnership, Gautam Thakur, Chairman of Saraswat Bank, highlighted the bank’s commitment to fostering an EV culture in India.
Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM), subsidiaries of Tata Motors Ltd., have signed a Memorandum of Understanding (MoU) with Saraswat Bank, one of India’s largest cooperative banks. This partnership aims to offer customized retail auto financing solutions for customers looking to purchase internal combustion engine (ICE) vehicles and EVs from Tata Motors.
Through this collaboration, Saraswat Bank will provide competitive interest rates, enhancing affordability and accessibility for customers looking to own vehicles from Tata Motors’ diverse portfolio. The MoU was signed in the presence of senior leaders from both organizations, underscoring their shared vision of customer-centric innovation and sustainability.
Speaking at the event, Gautam Thakur said, “We are delighted to partner with Tata Motors to offer our customers a range of tailored and competitive car financing solutions, designed to make vehicle purchases easier and more flexible. This tie-up reflects our commitment to providing our customers with diverse options while also promoting the adoption of EVs across the country.”
Adding his perspective, Dhiman Gupta, Chief Financial Officer, Tata Passenger Electric Mobility Ltd., and Vice President, Tata Motors Passenger Vehicles Ltd., stated, “As a customer-centric brand, we are always looking for ways to enhance convenience and affordability. This partnership with Saraswat Bank is a significant step in that direction, enabling us to offer tailored financing solutions at competitive rates. It strengthens our commitment to making Tata Motors’ ICE and EV products more accessible while ensuring a seamless and rewarding customer experience.”
Tata Motors continues to lead India’s automotive sector with its innovative lineup of vehicles powered by petrol, diesel, CNG, and electric powertrains. Known for their quality, safety, and advanced design, Tata Motors’ vehicles cater to the needs and aspirations of modern consumers. This collaboration with Saraswat Bank is expected to further boost the adoption of both ICE and EV models across the country.
