Ashok Leyland’s LCV division has signed an MoU with Adani Capital to enter into a strategic financing partnership for its range of Light Commercial Vehicles (LCVs). This MoU will enable the two companies to offer customised financial solutions for customers in the small CV and LCV segments.
The company is seeing growing demand for its LCV range and aims to ride the surging wave of demand for last-mile deliveries in the country. In Q1 FY2023, Ashok Leyland sold a total of 14,209 LCVs, up 63% year on year.
Rajat Gupta, Head - LCV, Ashok Leyland said, “This association will help Ashok Leyland gain an edge in the market. Ashok Leyland’s LCV range of products come with advanced and innovative technology that offer its customers best-in-class mileage, comfort and load-carrying ability. This reduces the total cost of ownership, thereby providing more profit in their business. Ashok Leyland has embraced future-ready technology to offer digital platforms and services.”
Saibaba Kelkar, Business Head, Adani Capital said, “In our company, funding to commercial vehicles is offered through dedicated RMs and a wide network of branches. We always try to offer customised solutions to the end user along with attractive commercials, combined with faster TAT. By leveraging the company’s extensive physical and digital reach, we would be able to offer our wide range of financial solutions to Ashok Leyland customers and their dealers.”
Ashok Leyland’s LCV vertical offers products in the 2T to 7.5T GVW range in the load-carrying segment with its Dost, Bada Dost and Partner range and 20- to 40 seats in the passenger-carrying segment with its MiTR range of school and staff buses.
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