• Corporate / Business

HPCL signs MOU with Tata Motor Finance Ltd for Diesel sale thru Drive Track Plus Program

• nationalherald
• November 16, 2020

by Prashant Kapadia/NHN

Hindustan Petroleum Corporation Limited has entered into a strategic tie–up with M/s Tata Motors Finance Limited (TMFL) for sale of Diesel to customers through HPCL’s flagship – Drive Track Plus program, virtually.

COO – Sales & Marketing – TMFL, Shri Anand Bang and Executive Director – Retail, Shri S K Suri signed the MoU in the presence of other Senior Officials. This MoU will help expand HPCL’s Drive Track Plus customer base to new fleet owners and give good penetration to TATA Commercial Vehicle Fleet Owners with credit offering by TMFL.

TMFL, as part of their concept of lifecycle financing, have introduced the fuel finance as a payment solution.  The journey developed for the customers is digital and will provide instant loan for fuel using AI based algorithms.  HPCL is the first Oil Marketing Company to sign MoU with TMFL.

The current solution by TMFL provides an effective fuel management tool to the fleet customers for efficiently purchasing auto fuels and lubricants thru Card less mode. TMFL offers the customers an unsecured credit line, within which one can pre-set daily usage limits for each vehicle and derive maximum benefit by frequently rotating the loan. The tie-up is expected to bring in additional monthly volume of 5000 KL HSD in coming 3-4 months through our Retail Outlet network.