Mahindra and PNB partner to simplify financing for commercial EVs, driving India’s last-mile connectivity.
Mahindra Last Mile Mobility (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, and easy repayment schedules will enable seamless financing for the entire MLMML vehicle range.
Speaking on the occasion, Suman Mishra, Managing Director and CEO of Mahindra Last Mile Mobility, 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 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.”
About Mahindra Last Mile Mobility
Mahindra Last Mile Mobility (MLMML), an M&M subsidiary, is India’s leading manufacturer of electric small commercial vehicles (EVs). MLMML offers the country’s widest portfolio of electric, petrol, CNG, and diesel last-mile three and four-wheeler passenger and cargo vehicles, including the award-winning Treo, Zor Grand, e-Alfa, and Jeeto ranges.
About Mahindra
Founded in 1945, the Mahindra Group is an admired multinational federation with 324,000 employees in over 100 countries. It leads in farm equipment, utility vehicles, IT, and financial services in India, and is the world’s largest tractor company by volume. The Group also has a strong presence in sectors including renewable energy, logistics, and real estate, focusing clearly on ESG leadership to drive positive community change.
About Punjab National Bank
Punjab National Bank (PNB), established in 1894, is one of India’s oldest and largest public sector banks. Headquartered in New Delhi, PNB provides a wide range of retail, corporate, and digital financial services. With an extensive network of branches and ATMs across India and overseas, the bank serves millions, focusing on financial inclusion, digital transformation, and customer-centric services.
SOURCE – PR
