Ashok Leyland, UCO Bank Ink Vehicle Financing Pact
Chennai, July 28 (TNT): Commercial vehicle major Ashok Leyland on Tuesday signed a Memorandum of Understanding (MoU) with UCO Bank to provide customised vehicle financing solutions to customers purchasing its trucks and buses.
The partnership aims to improve access to finance by offering end-to-end vehicle loan solutions with flexible repayment options for Ashok Leyland customers across the country.
The MoU was signed by Ashok Leyland Vice President (Finance) Neelakantan and UCO Bank Zonal Head (Chennai) R.S. Ajith in the presence of senior officials from both organisations.
Ashok Leyland Whole-Time Director and Chief Financial Officer K.M. Balaji said the partnership would make the company’s commercial vehicles more accessible through attractive financing options and strengthen its market presence.
He said the company remained committed to providing technologically advanced mobility solutions with a competitive total cost of ownership.
Ashok Leyland Senior Vice President and National Head (Sales – Medium and Heavy Commercial Vehicles) Madhavi Deshmukh said the collaboration would provide fleet operators and businesses with greater financial flexibility while enhancing customer ownership experience.
UCO Bank Deputy General Manager and Zonal Head (Chennai) R.S. Ajith said the partnership reinforces the bank’s commitment to offering tailored financing solutions that simplify commercial vehicle ownership and support business growth.
Ashok Leyland, the flagship commercial vehicle company of the Hinduja Group, manufactures a comprehensive range of trucks and buses catering to diverse transportation requirements, including light commercial vehicles, long-haul trucks and buses.
The company also offers alternative fuel-powered buses as part of its focus on sustainable mobility.
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