India's renowned car-maker Tata Motors has signed a Memorandum of understanding with Corporation Bank for commercial vehicle financing on a national level. As per a press release given by the Indian car-maker, Corporation Bank shall be a preferred source of financier for its wide range of commercial vehicles in India. It is also interesting to note that Tata Motors have earned the title of being world's fifth largest truck manufacturer and fourth largest bus manufacturer. The company boasts of having support of over 60000 employees that are guided by a mission, stated as, “to be passionate in anticipating and providing the best vehicles and experiences that excite our customers globally.”
Speaking more about the tie-up, V S Karthikeyan, Corporation Bank General Manager, said, “The Bank is in the forefront of offering value added and innovative products and services to its clients. The tie up with Tata Motors is one more step in this direction.” The decision is expected to provide good benefits to the interested buyer lot as they may be entitled to receive finance from a nationalized bank with low rate of interest as compared to the private banks.
Tata Motors has unveiled the Zest and Bolt amidst the hype and glamor surrounding the 2014 Auto Expo event. The Zest is the new 4 meter sedan, whereas the Bolt belongs to the hatchback segment. Speaking more on the occasion, Mr. Ranjit Yadav, President, Passenger vehicles, Tata Motors, said, “We at Tata Motors are delighted to showcase to the global market the much awaited next generation cars – the ZEST, a stunning and exciting new compact sedan and the Bolt, a dynamic hatch. These cars have been engineered for global markets, through global teams across India, UK and Korea to set new standards in their respective segments. These cars are a true representation of our Horizonext philosophy, with best-in class offerings for performance that yet offers economy and efficiency.”
The company had also showcased it new SUV concept rechristened as 'Nexon' at the recently held Auto Expo event. Mr. Ranjit Yadav further added, “The Nexon, for example, that would be commercialized and will be available for the sale in next 24 months. So you can see that the portfolio starts to get up filled very quickly.”
