Tata Group ties up with ride-sharing company Uber Technologies in a deal that would provide drivers and owners on Uber platform with benefits like comprehensive vehicle purchase and financing solutions.
Those looking to operate Uber cars can now buy Tata vehicles such as Indica and Indigo from Tata and also get access to flexible and customised financing solutions from Tata Capital and Tata Motors Finance. They will also be able to buy insurance from Tata AIG.
Madhu Kannan, the Member-Group executive council and Group Head for business development and public affairs of Tata Sons, said that this will be a pan-India initiative, which has been rolled out first in Hyderabad. Over the next one year, it will be extended to other places, enabling over 20,000 drivers to start their own business on the Uber platform.
Tata Business Support Services in addition will provide operational support to drivers who want to use this new vehicle solutions programme, added Kannan. Last year, Tata Opportunity Fund invested in Uber.
Eric Alexander, the head of Business of Uber Asia, said the company has made it possible for millions of people in India to get a ride to work at the push of a button.
He stated, “It’s clear from talking to drivers how much they value their flexibility and independence. It’s why we are excited to work with the Tatas to help make it easier and more affordable for drivers to get on the road, thereby promoting micro entrepreneurship in India.”