Daimler India Commercial Vehicles (DICV), a wholly owned subsidiary of Daimler Truck AG, has announced a significant strategic partnership with Bajaj Finance, part of the Bajaj Finserv Group. This collaboration aims to revolutionise the commercial vehicle financing landscape in India by offering tailored financial solutions to customers and dealerships across DICV’s entire vehicle portfolio.
As per the Memorandum of Understanding (MoU) signed by DICV and Bajaj Finance, the partnership will introduce innovative financial products designed to cater to the diverse needs of DICV’s expanding customer base. The new solutions will enhance flexibility for businesses seeking to acquire commercial vehicles, making financing more accessible and convenient.
Sreeram Venkateswaran, President & Chief Business Officer, Daimler India Commercial Vehicles, expressed enthusiasm about the partnership: “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 grow their businesses with confidence and capitalize on new market opportunities.”
The collaboration promises to streamline the financing process with faster loan approval turnaround times, simplified credit appraisal processes, and customised financing options tailored to various customer needs. Bajaj Finance will offer a comprehensive range of financial products with flexible terms to address different business requirements. This enhanced accessibility and convenience will ensure a smooth and hassle-free financing experience for fleet owners and dealerships alike.
Anup Saha, Deputy Managing Director, Bajaj Finance, highlighted the transformative potential of the partnership: “Our partnership with Daimler India Commercial Vehicles is unique and set to redefine 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 flexible financing options designed to optimize 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.”
The alliance allows Bajaj Finance to leverage DICV’s expanding network to penetrate new markets and customer segments, broadening its footprint and enhancing market penetration capabilities. Through this strategic partnership, DICV and Bajaj Finance are poised to deliver substantial value to their customers, providing innovative financial products and services that drive business efficiency and growth.