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Ashok Leyland Teams Up With Bajaj Finance For Custom Vehicle Finance
Ashok Leyland Limited, a leading commercial vehicle manufacturer in India and part of the Hinduja Group, has entered into a strategic vehicle financing partnership with Bajaj Finance Limited, a major financial services group in the country.
The two companies have signed a Memorandum Understanding (MoU) to provide customised financial solutions for their customers across India.
Customised Financial Solutions for Customers
The MoU was signed by K.M. Balaji, CFO of Ashok Leyland, and Harjeet Toor, President – Bharat Lending and Strategic Partnerships at Bajaj Finance. Sanjeev Kumar, President and Head- MHCV at Ashok Leyland, was also present during the signing.
This partnership will enable Bajaj Finance to offer comprehensive financial solutions to Ashok Leyland's customers, focusing on providing vehicle loans with convenient monthly repayment plans tailored to their preferences.
According to Balaji, this strategic partnership will strengthen Ashok Leyland's market position while offering industry-leading total cost of ownership for their customers.
Kumar added that the collaboration between Bajaj Finance and Ashok Leyland would provide customers with comprehensive financing solutions and specially curated easy repayment plans.
Anup Saha, Deputy Managing Director at Bajaj Finance, expressed delight at the collaboration with Ashok Leyland and confidence that more vehicle owners would benefit from this partnership and scale their operations.
The Sales and Marketing teams of both companies will work together to develop joint marketing and financing programs to enhance business volumes mutually.
Ashok Leyland's Range of Commercial Vehicles
Ashok Leyland offers a wide range of trucks and buses catering to various commercial vehicle needs, from intercity light commercial vehicles to long-haul trucks and buses. Their vehicles ensure safe transport and driver-friendly options.
As a pioneer in technological innovations within the truck and bus segment, Ashok Leyland is fully equipped with a range of buses powered by alternative fuels, dedicated to reducing pollution and promoting an eco-friendly transport system in India.
Bajaj Finance is one of India's most diversified non-banking financial companies (NBFCs), serving over 83.64 million customers across lending, deposits, and payments. As of March 31, 2024, the company's assets under management stood at ₹3,30,615 crore.
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