Are there any applications similar to Thinkvantage tools available for Linux? Something which would help me to update the BIOS and the drivers
There are no thinkvantage tools for Linux from Lenovo as of now. While Linux has its own update managers which are used to update and install applications,Lenovo's TVSU connects to its own repository which is independent of the OS.
If you want to update the BIOS which is independent of the OS,you have to use a bootable BIOS update disc