Ashok Leyland, the Indian flagship of Hinduja Group and the country’s leading commercial vehicle manufacturer, signed a memorandum of understanding (MoU) with Indian Bank to provide finance facilities for its M&HCV dealers.

Through the cooperation, Ashok Leyland's M&HCV dealers will have easier access to finance solutions, enabling them to improve company operations and effectively manage their working capital. Dealers may grow their operations with ease thanks to Indian Bank's customised financing alternatives, which offer better liquidity, quicker loan approvals and competitive interest rates. This partnership underscores Ashok Leyland's dedication to empowering its dealer network and promoting sustainable growth in the commercial vehicle sector by guaranteeing increased financial flexibility.

C Neelakantan, Head of Treasury and Direct Taxation at Ashok Leyland, and Saurabh Dalmia, Head of Cash Management at Indian Bank, signed the MoU in the presence of Madhavi Deshmukh, National Sales Head of MHCV at Ashok Leyland, Ashutosh Choudhury, Executive Director, Roopali Singh, DGM-CMS Vertical, and Munash Dalal, AGM-CMS Vertical, who were representatives from Indian Bank.

Balaji K M, CFO, Ashok Leyland, said, “Ashok Leyland is delighted to partner with Indian Bank to offer customised finance solutions to our valued M&HCV dealers. With Indian Bank’s expansive network of 5,880 branches across India, we can cater to our dealers in every region. This strategic partnership will strengthen Ashok Leyland's market position. We remain committed to delivering exceptional experiences to our customers.”

Madhavi Deshmukh, National Sales Head – MHCV, Ashok Leyland, said, “The strategic collaboration with Indian Bank will deliver exceptional financing solutions to our valued dealers, extending our market reach and reinforcing our commitment to innovation and partner success. This partnership will provide tailored financing solutions designed to meet the unique requirements of our dealers. We remain dedicated to fostering long-lasting relationship with our dealer network.”

Ashutosh Choudhury, Executive Director, Indian Bank, said, “Indian Bank is pleased to partner with Ashok Leyland to provide their dealers seamless and tailored financing solutions. This collaboration reaffirms our commitment to supporting the diverse financial requirements of businesses in the commercial vehicle sector. With Indian Bank’s best-in-class processes, we are confident that more dealers will benefit from this partnership, enabling them to scale their operations and drive business growth.”

Comments (0)

ADD COMMENT

Link Copied!

Piaggio Vehicles, one of the leading two-wheeler and three-wheeler manufacturers, has expanded its electric passenger portfolio with the launch of the Ape WavE L3 electric three-wheeler at INR 255,000 (ex-showroom).

The Ape WavE is powered by a 5.4 kWh battery, a 3 kW motor and provides 25 Nm of torque. It reaches a top speed of 40 kmph, features 19 percent gradeability and offers a range of approximately 90 km. The charging time for the unit is 4.5 hours.

The electric three-wheeler features a monocoque chassis & metal body and ground clearance of 180 mm.

Diego Graffi, Chairman & MD, Piaggio Vehicles, said, “India’s electric mobility landscape is evolving rapidly, particularly in the passenger three-wheeler category where customers are looking for dependable and economically viable solutions. With the Ape WavE, we are introducing a product that has been developed specifically to meet the needs of drivers seeking affordable ownership along with superior comfort, safety, and operational reliability. The vehicle reflects our understanding of Indian mobility requirements and reinforces our commitment towards sustainable transportation and livelihood generation across the country.”

Amit Sagar, Executive Vice-President CV Domestic Business and Retail Finance, Piaggio Vehicles, added, “The passenger EV segment continues to witness strong demand, particularly in markets where shared mobility and short-distance transportation play an important role in daily commuting. The Ape WavE has been designed to offer customers an ideal balance between acquisition cost, operational savings, and passenger experience. With robust build quality, low maintenance requirements, strong ride comfort, and trusted Ape reliability, the vehicle is expected to create a strong value proposition for drivers and fleet operators alike.”

Comments (0)

ADD COMMENT

Link Copied!

Mumbai-headquartered automotive major Mahindra Tractors has launched its latest product offering the YuvoTech+ 585 DI V1 in 2WD and 4WD options.

The tractor is powered by a mBULL engine and features a 12F + 3R transmission system, Multi-Speed PTO and a SLIPTO dual-clutch mechanism. It includes a hydraulic system for implements and is designed with power steering and an operator platform.

Harsh Rai, CEO, Mahindra Tractors, said, "We are proud to launch the YuvoTech+ 585 DI V1 across India following its successful introduction in select markets. Built on our fast-growing YuvoTech platform, this tractor combines advanced technology with robust performance and practical features. Its strong acceptance highlights our commitment to delivering quality, durability, and long-term value to farmers. With this nationwide rollout, we aim to empower farmers with a reliable and adaptable solution for their evolving needs."

The tractor is sold with a 6-year warranty through Mahindra dealerships across India.

Comments (0)

ADD COMMENT

Link Copied!

Chennai-headquartered commercial vehicle major Ashok Leyland has partnered with Rosmerta Recycling to facilitate the scrappage of end-of-life commercial vehicles.

The collaboration aims to support the Government of India’s Voluntary Vehicle Modernisation Program and the Naya Safar Scheme, which targets the reduction of transport emissions in the Delhi-NCR region.

As part of the understanding, Ashok Leyland will use its dealer network to provide customers with access to Rosmerta Recycling’s Registered Vehicle Scrapping Facilities. This service includes support for deregistration and statutory documentation. Customers availing the scrappage service can receive value for their vehicles, discounts on new purchases and waivers on road tax and registration fees in accordance with government policy.

Madhavi Deshmukh, National Sales Head, Ashok Leyland, said, "India has a significant population of ageing commercial vehicles, making an organised, transparent and customer-friendly scrappage ecosystem essential. Through our partnership with Rosmerta Recycling, we are making responsible vehicle disposal simpler while enabling customers to transition to newer, cleaner and more efficient commercial vehicles. This collaboration reinforces Ashok Leyland's commitment to sustainable mobility, circular economy principles and reducing emissions across the vehicle lifecycle."

Kartick Nagpal, President, Rosmerta Group, stated, "Our partnership with Ashok Leyland comes at a pivotal time, as the Government's recently approved commercial vehicle replacement initiatives are expected to accelerate organised vehicle scrappage across India. The mandatory scrappage of BS-III and older commercial vehicles through authorised RVSFs – covering an estimated 207,000 vehicles in Delhi-NCR – is a significant step towards cleaner mobility and a stronger circular economy. At Rosmerta Recycling, we remain committed to scientific dismantling, maximising material recovery, and maintaining the highest environmental and regulatory standards to build a sustainable vehicle recycling ecosystem.”

Comments (0)

ADD COMMENT

Link Copied!

The Ministry of Road Transport and Highways (MoRTH) and Eicher Trucks & Buses, a division of VE Commercial Vehicles (VECV), have signed a Memorandum of Understanding (MoU) regarding the replacement scheme for commercial vehicles in the Delhi-NCR region.

Under the agreement, Eicher Trucks & Buses will provide an 8 percent discount on the ex-showroom price of eligible vehicles. CV customers can also receive additional support regarding motor vehicle tax, registration fees, interest subvention and fuel benefits, as defined by the scheme criteria. The process will be managed through a digital platform integrated with the VAHAN database and the vehicle scrapping ecosystem.

S S Gill, Chief Commercial Officer, VE Commercial Vehicles, said, “For over 4 decades, Eicher Trucks and Buses customers have driven modernisation in the Indian CV industry. Carrying this tradition, Eicher Trucks and Buses is pleased to join hands with the Ministry of Road Transport and Highways on their path-breaking policy to replace old and polluting vehicles from the NCR region. Eicher customers will gain from the substantial incentives offered by the Government of India and State Governments of Delhi, Haryana, Uttar Pradesh and Rajasthan under this program."

Comments (0)

ADD COMMENT

Link Copied!