Ashok Leyland, the flagship of the Hinduja Group and one of the largest commercial vehicle manufacturers in India, today signed a Memorandum of Understanding (MoU), with Cholamandalam Investment and Finance Company Limited (Chola), for a strategic tie-up on vehicle financing, for a period of two years. This MoU will equip both, Ashok Leyland and Chola, to reach out to a diverse set of customers with a customized financial solution. The combined strength of both brands will help reach out to customers in need of financial assistance, across India, where either brand has a presence. Ashok Leyland is the first manufacturer in India to be ready with the complete range of BS6 vehicles that have been developed specifically for Indian conditions and this tie-up will further help customers to own and derive the benefits of Ashok Leyland’s industry-first and industry-leading technologies.
Commenting on the partnership, Mr. Anuj Kathuria, Chief Operating Officer, Ashok Leyland, said, “We always think customer-first and this tie-up with Chola is yet another step in that direction. With Chola as one of our trusted partners for a customized financial solution, our combined pan-India reach will help customers to choose the financial solution they desire. Ashok Leyland products represent differentiated technology with the best-in-class total cost of ownership, thereby providing better profitability to our customers. Our tie-up with Chola will further enhance this and thereby also delivering on our brand promise of ‘Aapki Jeet. Hamari Jeet’”.
“We are happy to be partnering with Ashok Leyland, a leading commercial vehicle brand with a culture of innovation and excellence, and a proven track record over the years. Building quality relationships has always been a cornerstone of Chola’s philosophy. Over the last 4 decades, we have been building lasting relationships with our customers and partners by consistently delivering excellent value for both. With our strong network of 1000+ branches across India, we aim to offer the customers a never before experienced through customized finance offerings that would come with speedy, convenient and transparent processes. This partnership is also in line with our continuous endeavor in enabling our customers to ‘Enter a Better Life’,” says Mr. Ravindra Kundu, President & Business Head-Vehicle Finance, Cholamandalam Investment, and Finance Company Limited.
Cholamandalam Investment and Finance Company Limited (Chola), incorporated in 1978 as the financial services arm of the Murugappa Group. Chola commenced business as an equipment financing company and has today emerged as a comprehensive financial services provider offering vehicle finance, home loans, home equity loans, SME loans, investment advisory services, stockbroking and a variety of other financial services to customers.
Chola operates from 1029 branches across India with assets under management above INR 59292 Crores. The subsidiaries of Chola are Cholamandalam Securities Limited (CSEC), Cholamandalam Distribution Services Limited (CDSL).
The mission of Chola is to enable customers to enter a better life. Chola has a growing clientele of over 8 lakh happy customers across the nation. Ever since its inception and all through its growth, the company has kept a clear sight of its values. The basic tenet of these values is strict adherence to ethics and a responsibility to all those who come within its corporate ambit – customers, shareholders, employees, and society. For more details, please visit www.cholamandalam.com