Daimler India Commercial Vehicles (DICV), a wholly owned subsidiary of Daimler Truck AG, has announced a strategic partnership with Bajaj Finance, part of Bajaj Finserv Group, one of India’s largest financial conglomerates to offer tailored financing solutions for its commercial vehicle customers and dealerships. This collaboration aims to enhance the accessibility and convenience of financing options across DICV’s entire commercial vehicle portfolio.
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 grow their businesses with confidence and capitalize on new market opportunities.”
The partnership will offer customer-focused finance solutions with faster turnaround times for loan approvals, streamlined credit appraisal processes, and customized 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, Bajaj Finance,said,“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.”
Bajaj Finance can leverage the growing network of DICV to tap into new markets and customer segments, significantly broadening its footprint and enhancing its market penetration capabilities. Through this strategic alliance, DICV and Bajaj Finance are poised to drive significant value for their customers, offering innovative financial products and services that enhance business efficiency and growth.