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ORIX India ties up with M&M truck division for vehicle loans

Press Trust of India  |  New Delhi 

Leasing and firm ORIX today announced a tie-up with Mahindra group to provide vehicle on purchase of medium and heavy trucks of the automaker.

ORIX is a 100 per cent subsidiary of Japan's largest car leasing company ORIX Corporation. It is also into self-drive car rental and consumer

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

Commenting on the partnership, ORIX India MD and CEO Sandeep said: "ORIX will offer funding up to 90 per cent 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.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, June 14 2017. 15:57 IST