Srei Equipment Finance Limited, a wholly owned subsidiary of Srei Infrastructure Finance Limited, and Tata Motors have signed a Memorandum of Understanding (MoU) to finance Tata Motors commercial vehicles with a special focus on construction and mining tippers. This move will enable Srei and Tata Motors to explore enhanced growth prospects in the heavy-duty tipper truck segment.
Devendra Kumar Vyas, CEO, Srei, said, “This partnership programme will enable customers to acquire their preferred brand of vehicle with customised financing solutions. This partnership will also help Srei to drive its ‘Asset Life Cycle’ management solutions and multiple customer programmes. Srei has carved out a leadership position in the infrastructure equipment financing market due to its customer and manufacturer focussed approaches.” Srei will also aim to expand its penetration in financing and leasing of heavy duty tipper trucks through this partnership.
Rajesh Kaul, Head Sales & Marketing – Medium & Heavy Commercial Vehicle Business, Tata Motors, said, “Tata Motors continues its dominant position in tipper segment with market relevant, technologically superior products, unique value added service offerings and industry’s best, post sales ownership experience. This 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.”