Tata Group & Uber sign $160 mn sales and finance agreement

The Tata Group of Companies have announced a tie-up with ride hailing service provider Uber, with an agreement worth $ 160 million. Under this agreement, the Tata group would be providing sales, finance and insurance solutions to drivers and owners working under the Uber platform.

Tata Motors would be providing added benefits for drivers and owners willing to purchase Indica and Indigo cars for operating them under the Uber platform. Moreover, financing options will also be made available from Tata Capital and Tata Motors Finance. Tata AIG will further be providing insurance to the new vehicles.

The said agreement was made after Shardul Amarchand Mangaldas & Co (SAM & Co) advised Uber to initiate a partnership with the Tata Group for sales, insurance and financing solutions. Interestingly, Tata Opportunity Fund had invested an undisclosed amount in Uber last year.

Source: ET Auto