Srei Equipment Finance & Tata Motors sign MoU to Finance Commercial Vehicles

Srei Equipment Finance and Tata Motors on Wednesday signed a memorandum of understanding to finance Tata Motors commercial vehicles with a special focus on construction and mining tippers.

The preferred financier agreement will allow both Srei Equipment and Tata Motors to explore enhanced growth prospects in the heavy-duty tipper truck segment in the country.

Elaborating on the agreement, Srei Equipment Finance CEO Devendra Kumar Vyas said: "This partnership will enable customers to acquire their preferred brand of vehicle with customised financing solutions. On the other hand, the partnership will facilitate Srei to drive its 'asset life cycle' management solutions and multiple customer programmes. Srei has over the past few years carved out a leadership position in the infrastructure equipment financing market due to its customer and manufacturer focussed approach."

Srei Infrastructure Finance's wholly owned subsidiary Srei Equipment will also aim to expand its penetration in financing and leasing of heavy duty tipper trucks through this partnership.

"The alliance with Srei is another such initiative by us to make purchases conducive for a larger market base and establish leasing as a preferred option for construction and mining tippers. This would enable both companies to enhance their reach and mutually benefit. We are sure that the industry expertise that Srei brings on table would help us serve our customers better and set new paradigms for the industry," said Rajesh Kaul, head sales & marketing – medium & heavy commercial vehicle business, Tata Motors.