Tata Motors & Standard Chartered Partner for EV Dealer Finance

New Delhi, Nov 6 (PTI) Tata Motors and Standard Chartered Bank on Monday announced a partnership for providing supply chain finance solutions to the automaker's electric vehicle dealers.

The partnership with Standard Chartered Bank will further assist the company's authorised passenger electric vehicle dealer partners with an exclusive financing programme, Tata Passenger Electric Mobility Ltd and Director, Tata Motors Passenger Vehicles Ltd, CFO Dhiman Gupta said in a joint statement.

Currently, Standard Chartered Bank offers inventory funding limits to the conventional engine vehicle dealerships of Tata Motors across its passenger and commercial vehicle businesses.

"This augurs well for our strategy to support sustainable industries, and is yet another testimony of our long-standing engagement with Tata Motors and the Tata Group, which spans over many decades and represents one of our most valued relationships globally," Standard Chartered Bank, Managing Director & Co-Head, Client Coverage, India, Ankur Khurana said.