Mahindra Last Mile Mobility, PNB sign MoU for vehicle financing solutions

Mahindra Last Mile Mobility Limited (MLMML), India’s No.1 electric commercial vehicle manufacturer and Punjab National Bank (PNB), India's second-largest public sector bank, have announced the signing of a Memorandum of Understanding (MoU) for vehicle financing solutions. By enabling easier access to financing options, MLMML and PNB are poised to drive positive change and innovation in last-mile connectivity.

MLMML had recently announced crossing the 3 lakh commercial EV sales milestone – the first by any company in India. PNB, through its 10000+ branches across India, will offer unmatched reach and accessibility. The strong branch presence especially in semi-urban and rural markets, customised finance schemes, easy repayment schedules, will enable seamless financing for the entire MLMML vehicle range.

Suman Mishra, Managing Director and CEO of Mahindra Last Mile Mobility Limited, commented, "We are pleased to partner with PNB and enable access to their comprehensive finance solutions for our valued customers. This collaboration will support MLMML’s commitment to making advanced last mile mobility vehicles affordable and seamless for all."

Ashok Chandra, MD & CEO, PNB, said, “We are delighted to join hands with Mahindra Last Mile Mobility Limited to make eco-friendly transportation solutions more accessible. This partnership reflects our dedication to sustainable practices and customer-centric financial offerings. Together, we aim to simplify the purchase journey for customers and accelerate the adoption of electric vehicles in India.”