Daimler India Commercial Vehicles (DICV), to provide customised financing options for its commercial vehicle clients and dealerships, a wholly-owned subsidiary of Daimler Truck AG has announced a strategic partnership with Bajaj Finance, a division of Bajaj Finserv Group, one of India’s largest financial conglomerates. The goal of this partnership is to make financing options more easily accessible and convenient for all of DICV’s commercial vehicle inventory.
As per the Memorandum of Understanding (MoU) signed by DICV and Bajaj Finance, innovative financial products will be specifically designed to meet the diverse needs of DICV’s growing customer base, enhancing flexibility for businesses looking to acquire commercial vehicles.
Sreeram Venkateswaran, President & Chief Business Officer, Daimler India Commercial Vehicles, said, “We are delighted to partner with Bajaj Finance, as this enables us to offer enhanced and accessible financing solutions to our customers. This collaboration strengthens DICV’s ability to provide superior Total Cost of Ownership (TCO), representing a significant advancement in our commitment to deliver exceptional value and support. This partnership helps our customers confidently grow their businesses and capitalise on new market opportunities.”
The partnership offers customer-focused finance solutions with faster turnaround times for loan approvals, streamlined credit appraisal processes, and customised financing options to suit various customer needs. Bajaj Finance will provide a comprehensive range of finance products with flexible terms and conditions to cater to different business requirements. The enhanced accessibility and convenience provided by this collaboration will improve access to funds for fleet owners and dealerships, ensuring a seamless and hassle-free financing experience.
Commenting on this partnership, Anup Saha, Deputy Managing Director, of Bajaj Finance, said, “Our partnership with Daimler India Commercial Vehicles is unique and set to redefine the customer experience in the commercial vehicle financing space. We are rolling out bespoke solutions for various customers, from single truck owners to fleet operators, providing them with flexible financing options designed to optimise their cash flows and fuel their business growth. Our digital solutions, leveraging the India Stack, make the experience of owning commercial vehicles swift and seamless. The commercial vehicle industry is showing immense promise. Daimler’s state-of-the-art products and the tech-led financing experience of Bajaj Finance will empower small and large fleet owners alike. The partnership will enable us to jointly contribute to the growth of India’s logistics and transportation sectors.”
By utilising the expanding DICV network, Bajaj Finance can expand its reach into new markets and customer segments, thereby improving its ability to penetrate new markets. With the help of this strategic partnership, DICV and Bajaj Finance will be able to provide their clients with financial services and products that are cutting-edge and boost growth and efficiency in the workplace.