Uber, Tata cos partner to offer finance and cars to Uber drivers

This will enable owners and drivers to buy select Tata Motors' cars on flexible financing from Tata financing arms

Tata Group and Uber Technologies Inc have formed a new partnership to offer driver partners on the Uber platform a comprehensive vehicle purchase and ownership solution.

Under this partnership, owners and drivers will be able to buy cars like Indica and Indigo from Tata Motors on flexible and customised financing solutions from Tata Capital Financial Services and Tata Motors Finance besides affordable insurance from Tata AIG.

Rolled out first from Hyderabad, the new initiative with the global cab aggregator technology platform will enable at least 20,000 drivers to start their  own business across India over the next one year.

"A unique strength of the Tata group is that it can provide convergent solutions, meeting multiple requirements of its customers, and this partnership is a distinctive example of this strength. We are delighted to take our relationship with Uber forward, leveraging its technology expertise and Tata companies' capabilities and reach," Madhu Kannan, member-group executive council, and group head foe business development and public affairs at Tata Sons, said.

Eric Alexander, head of business, Uber Asia said, "Uber has made it possible for millions of people in India to get a ride and work at the push of a button. It's clear from talking to drivers how much they value their flexibility and independence. That's why we are excited to work with Tata to help make it easier and more affordable for drivers to get on the road-increasing micro entrepreneurship in India."

Earlier Tata Opportunities Fund had invested in Uber.