Under this partnership, PNB will offer tailored financing solutions for Mahindra Last Mile Mobility’s commercial vehicle lineup, leveraging its extensive network of more than 10,000 branches. Mahindra Last Mile Mobility Limited (MLMML) and Punjab National Bank (PNB) have entered into a Memorandum of Understanding to offer vehicle financing solutions, enhancing the availability of last-mile connectivity options across India.
Under the agreement, PNB will provide financing for the entire range of MLMML vehicles through its network of over 10,000 branches. The bank will offer tailored finance solutions and flexible repayment options, with a special focus on semi-urban and rural markets.
MLMML recently surpassed 3 lakh sales of commercial electric vehicles, becoming the first company in India to reach this milestone. Its portfolio includes electric small commercial vehicles such as the Treo range, Zor Grand, and e-Alfa, along with petrol, CNG, and diesel variants.
Suman Mishra, Managing Director and CEO of Mahindra Last Mile Mobility Limited, said, “We are delighted to partner with PNB to provide our customers with access to their wide-ranging finance solutions. This collaboration reinforces MLMML’s commitment to making advanced last-mile mobility vehicles more affordable and accessible for everyone.
Ashok Chandra, MD & CEO of PNB, stated, “We are excited to partner with Mahindra Last Mile Mobility Limited to make eco-friendly transportation solutions more accessible. This collaboration underscores our commitment to sustainable practices and customer-focused financial offerings, helping simplify the purchase process and drive the adoption of electric vehicles across India.
Founded in 1894, PNB is India’s second-largest public sector bank. MLMML, a subsidiary of Mahindra & Mahindra Ltd, is the country’s leading manufacturer of electric small commercial vehicles.
