National, 13 th October 2026: Ashok Leyland, the Indian flagship of the Hinduja Group and the country’s leading commercial vehicle manufacturer has signed a Memorandum of Understanding (MoU) with Union Bank of India (UBI) to establish a strategic vehicle financing partnership for its customers. This MoU will enable both Ashok Leyland and Union Bank of India (UBI) to offer customized financial solutions to the customers buying Ashok Leyland’s trucks and buses.
The MoU was signed by Mr. Neelakantan, Vice President- Finance, Ashok Leyland and Mr. Alok Kumar, General Manager and Zonal Head, Union Bank of India (UBI), in the presence of Mr. D. S. Madhusudhan, Head – Sales Finance and Mr. Kapil Pandya – Head Retail and Inventory Finance – LCV, Ashok Leyland. Under this partnership, Union Bank of India (UBI) will be able to provide end-to-end financial solutions to the customers of Ashok Leyland. The partnership aims to enhance customer convenience by offering vehicle loans with flexible, easy-to-manage repayment options, tailored to meet individual needs and preferences.
Mr. K M Balaji, Whole-Time Director and Chief Financial Officer, Ashok Leyland said, “Ashok Leyland is delighted to partner with Union Bank of India (UBI) to offer attractive and accessible financing solutions to our customers. This strategic partnership leveraging on UBI Network will further strengthen our market presence by enhancing access to our innovative range of commercial vehicles for businesses across the country. Built on advanced technology and engineered to deliver industry-leading total cost of ownership, our products are designed to drive greater efficiency, productivity and profitability for our customers.
Ms. Madhavi Deshmukh, Senior Vice President-National Sales Head-Medium & Heavy Commercial Vehicles, Ashok Leyland said, “At Ashok Leyland, we are committed to enabling our customers’ growth through innovative products and seamless ownership experience. Our partnership with Union Bank of India (UBI) is a significant step towards making our industry-leading commercial vehicles more accessible with attractive and convenient financing solutions. Together, we aim to empower fleet operators and businesses with greater financial flexibility, while delivering superior value through our technologically advanced products and best-in-class total cost of ownership.”
Mr. Alok Kumar, General Manager and Zonal Head, Union Bank of India (UBI) said, “Union Bank of India is pleased to partner with Ashok Leyland to offer seamless vehicle financing solutions. This collaboration underscores our commitment to enabling businesses with accessible and tailored financial solutions that simplify commercial vehicle ownership and facilitate sustainable growth. By enhancing access to convenient and customer-centric financing solutions, we aim to make vehicle ownership more seamless and accessible, while empowering our customers to strengthen their businesses and pursue new growth opportunities.”
Ashok Leyland today offers a comprehensive range of trucks and buses to meet the full spectrum of commercial vehicle needs, from intercity light commercial vehicles to long-haul trucks and a wide variety of buses. Ashok Leyland’s vehicles ensure safe transport and driver-friendly options. As a pioneer in technological innovations within the truck and bus segment, Ashok Leyland is fully equipped with a range of buses powered by alternative fuels, dedicated to reducing pollution and promoting an eco-friendly transport system in India.
About Ashok Leyland:
Ashok Leyland, flagship of the Hinduja Group, is among the leading commercial vehicle manufacturers globally and a pioneer in India’s mobility ecosystem. Ranked as the 2nd largest commercial vehicle manufacturer in India, the 4th largest bus manufacturer in the world, and among the top global truck manufacturers, Ashok Leyland has been driving progress for over seven decades.
With a revenue of US$ 4.65 billion and operations spanning 50 countries, Ashok Leyland combines a rich heritage of innovation with a strong commitment to sustainable mobility. Headquartered in Chennai, the company offers a diversified portfolio that includes trucks, buses, light commercial vehicles, defence vehicles, power solutions and electric mobility offerings, supported by an extensive manufacturing and distribution network in India and overseas.
Recognized among India’s leading brands, Ashok Leyland continues to shape the future of transportation through technology, operational excellence and customer-centric solutions, reinforcing its position as a trusted partner in nation-building and economic growth.
For more information, visit: www.ashokleyland.com
About Hinduja Group:
The Hinduja Group is a 111-year-old transnational conglomerate with over 250,000 employees across 100 countries. Founded in 1914 by Late Shri Parmanand Deepchand Hinduja, the Group has evolved into one of India’s most respected diversified business houses, with a leadership in automotive and mobility, banking and financial services, IT and digital solutions, energy and healthcare. Through its enterprises, the Group has contributed to India’s industrial evolution and economic progress while building strong global partnerships and market presence worldwide. Anchored in robust governance, disciplined risk management and long-term value creation, the Hinduja Group is guided by its enduring credo, “My Dharma is to work so that I can give,” reflecting a legacy that combines global enterprise with nation-building and community commitment.
