ICRA

Dealers say that this offer is only available at Tata Power EZ's over 5,500 charging stations across the country. Once customers register their vehicle on Tata Power EZ charge's phone app, the service will be activated in two days. The vehicle registered on this app should be privately registered and purchased from the dealership, so only first owners can avail this offer. Do note that this offer is capped to 1,000 units of electricity for six months since the purchase date of the SUV, and buyers will be charged the standard tariff after that. The free charging service is being offered in order to push sales of the Nexon EV and Curvv EV before the year ends. Prices for the Nexon EV start at Rs 12.49 lakh and go up to Rs 17.19 lakh. On the other hand, the Curvv EV coupe-SUV is priced between Rs 17.49 lakh and Rs 21.99 lakh (ex-showroom). While there are no discounts on the Curvv EV at the moment, a handful of dealers are offering tempting benefits as high as Rs 2 lakh on MY2023 Nexon EV units.

Tata Motors offers free charging for Nexon, Curvv EVs bought in December

Tata Motors said its subsidiaries -- Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility-- have joined hands with Saraswat Bank for vehicle finance. As per the agreement, the cooperative bank will offer customised auto retail financing solutions for customers looking to purchase internal combustion engines (ICE) and electric vehicles (EV) from the automaker. With this pact, the bank hopes to provide a wider choice to customers while also promoting the EV culture in the country, Saraswat Bank Chairman Gautam Thakur.

Tata Motors Subsidiaries Partner with Saraswat Bank for Vehicle Finance

Tata Motors will start operating trucks powered by hydrogen internal combustion engines on a pilot basis in the March quarter, according to a senior company official. Under the pilot project, part of the National Green Hydrogen Mission, the company along with IOCL will run the trucks on three routes for 18 months. At the Bharat Mobility Global Expo 2025, Tata Motors, last week, unveiled the truck powered by a hydrogen internal combustion engine. The trucks with hydrogen internal combustion engines will start operating this quarter, he said. It will be operated on three routes — Mumbai-Pune, Jamshedpur-Kalinganagar and Mumbai-Ahmedabad. The pilot project will generate a lot of data which will be used to improve the product as well as the infrastructure for fuelling hydrogen.

Hydrogen-powered trucks: Tata Motors to launch pilot project

The asset quality metrics of TMFL remained moderate with gross stage III of 6.9% as on September 30, 2024, as against 6.1% as on March 31, 2024. The improvement from March 2023 levels is driven by reduced restructured books along with improved collections and write offs. The restructured book reduced to Rs 802 crore as on September 30, 2024, as against Rs 1,096 crore as on March 31, 2024. Going forward, the company’s ability to manage its asset quality and improve profitability will remain key.


The issuer has made timely interest payment.

Neeraj Dhawan, MD

The ratings on the debt instruments of TMF group are based upon the expectation of strong support from the ultimate parent TML. This is because of the high strategic importance of TMF group to its parent, given the group being the captive financing arm of the parent. TMFHL and its subsidiaries have a high level of managerial and operational integration, wherein the parent extends management support through representation of its senior management on the boards of TMFL and TMFBSL.

The TMF group is a leading CV financier in India. The AUM of TMFL stood at Rs. 37,471 crore as on September 30, 2024.  Given the captive nature of the business, TMF has a strong partnership with dealers of TML and provides them financing support as well. Of the total AUM as on September 30, 2024, share of new vehicle financing portfolio stood at around 63%, while share of used vehicle financing portfolio stood at around 27%, corporate lending business stood at 8% and others at 2%.  

Security Name: 9.55% Tata Motors Finance Limited (P) Call : 19 Jan 2031

ISIN: INE601U08184

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