Ashok Leyland Ltd. has collaborated with Bajaj Finance Ltd. for financing vehicles nationwide. The deal involves a memorandum of understanding with the Bajaj Finserv Ltd. unit.
The partnership will enable both Ashok Leyland and Bajaj Finance to offer customised and seamless financial solutions to their customers, a statement by Ashok Leyland said.
'"This strategic partnership will strengthen Ashok Leyland's market position," said Chief Financial Officer KM Balaji.
With the company's "best-in-class India stack processes," more vehicle owners will gain from this partnership and scale their operations, said Anup Saha, deputy managing director, Bajaj Finance.
The sales and marketing departments of both firms will collaborate on creating shared marketing and financing initiatives, which will boost business growth through the partnership, according to the announcement.
Earlier this week, Tata Motors Ltd. signed an MoU with Bajaj Finance for financing solutions across its entire commercial vehicle portfolio. From the deal, customers will benefit from the latter's wide reach, competitive interest rates, flexi loan and digitally-enabled loan processing, Tata Motors had said in a statement.
(With inputs from PTI.)
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