Truck and bus maker Ashok Leyland has signed up a strategic partnership with Murugappa Group’s NBFC Cholamandalam Investment and Finance Company Ltd (Chola) to facilitate inventory financing for the Ashok Leyland dealers. 

The agreement will facilitate customised financing solutions for Ashok Leyland’s dealers, wherein Cholamandalam will offer its range of financial products to them across the country.

It is imperative for us to support our dealerships, which are an essential touchpoint for our customers and play a very key role in providing them with the best experience in terms of sales and after-sales support, said Amandeep Singh, President LCV, International Operations, Defense & Power Solutions, Ashok Leyland.

The new alliance aims to provide 130 Ashok Leyland dealerships nationwide with an array of comprehensive inventory funding options to address their working capital requirements, according to a statement. 

Ravindra Kundu, Executive Director of Chola said the company’s new agreement would further strengthen the partnership with Ashok Leyland. “We are already in partnership with them for providing customised financial solutions for the buyers of Ashok Leyland’s vehicles. With our strong network of 1.191 branches across India, we now aim to offer Ashok Leyland’s dealers customised finance offerings in maintaining the company’s inventory in their respective dealerships,” he added.

The Sales & Marketing teams of Cholamandalam and Ashok Leyland will work together to develop joint marketing and financing programs for mutually furthering the volumes of business.