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Mahindra and Orix India Sign MoU for Commercial Vehicle Loans

PTI

Updated: June 14, 2017, 5:48 PM IST
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Mahindra and Orix India Sign MoU for Commercial Vehicle Loans
Mahindra Logo. Image used for representative purpose. (Photo: Reuters)
Leasing and finance firm Orix India has announced a tie-up with Mahindra group to provide vehicle finance on the purchase of medium and heavy trucks of the automaker. Orix India is a 100 percent subsidiary of Japan's largest car leasing company Orix Corporation. It is also into self-drive car rental and consumer finance.

Orix India and Mahindra & Mahindra's medium and heavy truck division have signed a memorandum of understanding (MoU), the company said in a statement.

Commenting on the partnership, Orix India MD and CEO Sandeep Gambhir said: "Orix will offer funding up to 90 percent of the cost of the commercial vehicles with its leasing solutions for tenures ranging up to five years at competitive rates."

Orix provides finance for all kinds of commercial vehicles to clients consisting of small and large truck and bus operators, schools and distributors of all kinds of products, among others. The company also offers financing solutions for the purchase of both used and new light, medium and heavy commercial vehicles across the country.

"Orix is a great fit for Mahindra trucks and buses because of its nationwide presence and deep understanding of the commercial vehicles market," Mahindra Trucks and Buses Ltd MD and CEO Nalin Mehta said.
First Published: June 14, 2017, 5:48 PM IST
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