Tata, Uber Partner for Vehicle Financing & Insurance and it is a Great Deal!
The Tata Group has presence in almost every sphere and being an investor in Uber, it opens venues for the large multinational conglomerate to promote its services through the largest ride-hailing company.
Tata Fund pumped an undisclosed amount(about $100 Million according to reports) into Uber India and the company has now officially partnered with Uber to offer opportunities to drivers for flexible vehicle financing and insurance options.
It goes without saying that Tata Motors’ fleet of Indica and Indigo cars will be available for purchase and ownership through Tata Capital Financial Services’ flexible solutions, and at the same time provide insurance options through Tata AIG.
When you have everything under one roof, why look out somewhere else? Integration plays a key role here and we see Tata taking full advantage of their subsidiaries and investment in Uber.
Madhu Kannan, member-Group Executive Council at Tata sons, said, “This will help us bring individual entrepreneurs into the formal workforce, who otherwise wouldn’t have had access to formal finance and ability to purchase vehicles.”
— Uber India (@Uber_India) June 16, 2016
Who is this targeted at?
According to Uber, through this partnership a lot of drivers, who do now know where to start and how to complete the whole process, will get complete end-to-end information about getting funds for the vehicle, installment payment options and insurance integrated with the purchase.
In addition to this, the drivers will also get support to operate their vehicles efficiently in India, with help from Tata Business Support services. Most drivers want to have a flexible schedule and do not want to get caught up in the daily grind.
Uber wants to empower the drivers willing to take up the route through Tata, and develop them into micro-preneurs. This is a worthy initiative from the two companies to reduce all the hassles of joining a cab aggregator and then going through the vehicle registration process. Everything can now be done at one place, from the same trusted company of India.
In fact, this will pave way for people willing to start a fleet of vehicles to operate in cities where Uber operates in. Not just drivers, even people looking to start a business in these cities. The fleet, vehicle financing, insurance plans and business advice will be up for grabs from the same conglomerate, making it a very reliable and easy path for entrepreneurs.
If only we had Tata manufactured smartphones in the market, the picture would be complete. Jokes apart, the partnership seems a strong one and the one to benefit anyone looking to start business with Uber.