Piaggio Vehicles (PVPL), a wholly owned subsidiary of Italy's Piaggio Group, has signed a Memorandum of Understanding (MoU) with the State Bank of India (SBI) Lucknow circle. The strategic partnership is designed to leverage the Uttar Pradesh Government’s CM Yuva Yojna, a flagship initiative targeting employment and self-reliance for 150,000 youth across the state through small business ownership.

The agreement was signed by Amit Sagar, Executive Vice-President for CV Domestic Business and Retail Finance at PVPL and Vibhash Kumar, Deputy General Manager at SBI.

Under the collaboration, SBI’s network of over 1,600 branches across central and eastern Uttar Pradesh will provide retail financing solutions for Piaggio’s entire three-wheeler portfolio, encompassing both Internal Combustion Engine (ICE) and Electric Vehicle (EV) platforms.

The credit structure, operating under the combined guidelines of the state-level CM Yuva Yojna and federal Mudra schemes, targets eligible youth entrepreneurs aged 25–40 years. The partnership introduces financial terms to lower the total cost of ownership:

• Interest Structure: zero percent interest loans enabled by a 100 percent government interest subsidy.
• Loan-to-Value Ratio: Funding coverage spanning 85 percent to 90 percent of the total vehicle cost.
• Repayment Profile: A fixed four-year repayment tenure with no external guarantor requirements.
• Capital Incentives: Full refund of the initial margin money upon successful completion of the loan repayment cycle.

To streamline the onboarding process, Piaggio India will set up dedicated CM Yuva Help Centres across its authorised dealership network in Uttar Pradesh. These walk-in centres are designed to offer application guidance, documentation verification, and direct financing coordination within the showrooms.

Amit Sagar, said, “India’s mobility landscape is evolving rapidly. From small entrepreneurs to fleet operators, a new class of owners is emerging, and they need financing that understands their realities. Through this partnership, Piaggio India and State Bank of India are bringing together the strength, trust, and reach of two respected institutions to make vehicle ownership simpler, faster, and more accessible. By leveraging the Uttar Pradesh Government’s CM Yuva Yojna which offers eligible young entrepreneurs 0% interest free financing, government-backed subsidies, and simplified access to business ownership; we are creating meaningful opportunities for self-employment and enterprise development at scale. This initiative goes beyond vehicle financing; it is about enabling aspirations, fostering entrepreneurship, and contributing directly to employment generation for the youth of Uttar Pradesh. Piaggio India remains committed to supporting inclusive economic progress through practical, sustainable, and accessible mobility solutions.”

Vibhash Kumar, added, “This collaboration combines SBI’s trusted financial capabilities and extensive network with Piaggio’s established leadership in the three-wheeler segment to create meaningful livelihood opportunities for aspiring entrepreneurs across Uttar Pradesh. Through CM Yuva Yojna, we are committed to supporting youth-led enterprise by making affordable financing widely accessible, thereby strengthening self-employment, last-mile connectivity and long-term economic development.”

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Tata Motors, one of the leading commercial vehicle manufacturers, has inked a Memorandum of Understanding (MoU) with UCO Bank for financing solutions.

Through this collaboration, customers will have access to interest rates, loan approvals and processing. The agreement includes loan-to-value funding options and repayment tenures. The partners will coordinate across branches and dealerships to reach customers in urban and rural markets.

Shashikant Kumar, General Manager & Zonal Head – Mumbai, UCO Bank, said, “The signing of this Memorandum of Understanding with Tata Motors Limited marks another significant milestone in UCO Bank’s commitment to delivering innovative and customer centric financing solutions. Through this strategic partnership, we aim to provide seamless, competitive and timely financing for TATA Motors commercial vehicles, enabling entrepreneurs, fleet operators and businesses to expand with confidence.”

Rajesh Kaul, Vice-President & Business Head – Trucks, Tata Motors Ltd., said, “We are pleased to partner with UCO Bank to further strengthen the financing ecosystem for our commercial vehicle customers. Access to organised and competitive financing is a key enabler for our customers' growth, and UCO Bank's strong nationwide presence makes them an ideal partner in this endeavour. This MoU reinforces our commitment to delivering end-to-end solutions, from world-class vehicles to organised financing that empower our customers to grow their businesses with greater confidence and convenience.”

At present, Tata Motors’ product portfolio ranges from 1-tonne to 55-tonne cargo vehicles and 10-seater to 51-seater mass mobility solutions. The company provides services through its Sampoorna Seva 2.0 initiative, the Fleet Edge platform and a network of over 4,500 sales and service touchpoints.

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Volvo Buses India, a business unit of VE Commercial Vehicles, has unveiled the Volvo 9600 Seater-Sleeper coach at the Prawaas 5.0 exhibition in Gandhinagar. It is designed to combine seating and sleeper configurations in a single platform for intercity, tourism and pilgrimage routes.

The 15-metre coach accommodates 51 passengers, featuring 24 upper-deck sleeper berths and 27 lower-deck seats equipped with calf support. It is powered by the Volvo VEDX8 engine and utilises an I-shift transmission. The interior includes an integrated kitchenette, an onboard toilet, mobile charging points and entertainment systems.

S S Gill, Chief Commercial Officer, VE Commercial Vehicles, said, “India's bus industry is evolving rapidly, with rising passenger expectations for premium travel experiences and operators seeking higher productivity and operational efficiency. At Volvo Buses India, we continue to shape the future of mobility by combining globally proven engineering with innovations that address evolving needs of the Indian market. The Volvo 9600 Seater-Sleeper expands our premium coach portfolio with a flexible solution that meets customer expectations for safety, comfort and luxury."

Suresh Chettiar, Executive Vice-President – Bus Division, VE Commercial Vehicles, added, "The Volvo 9600 platform has been widely appreciated for setting new standards in luxury, safety and passenger comfort. Building on that success, we are introducing the Volvo 9600 Seater-Sleeper to meet the growing demand for more flexible premium travel solutions. Featuring 24 upper sleeper berths and 27 premium lower-deck seats with calf support, the new coach enables operators to efficiently cater to both short- and long-distance routes while delivering an elevated travel experience for passengers."

The vehicle introduces safety features, including a 360-degree camera system and camera-based electronic rear-view mirrors. It also includes a tyre pressure monitoring system, a driver state monitoring system to detect fatigue and an alcohol interlock system. The coach is equipped with a telematics solution for real-time monitoring of vehicle location, performance and fuel consumption.

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The Prawaas 5.0 exhibition, an event focused on the public transport industry, has opened at the Helipad Exhibition Centre in Gandhinagar, Gujarat. Scheduled from 9–11 July 2026, the exhibition is organised by the Bus & Car Operators Confederation of India (BOCI) to coincide with its 10th anniversary.

The event, held under the theme ‘Towards Safe, Smart & Sustainable Passenger Mobility,’ brings together manufacturers, technology providers, and operators. Exhibitors include companies such as Tata Motors, VE Commercial Vehicles, Daimler, JBM, Force Motors, EKA Mobility, Switch Mobility and Sun Mobility, among others.

The exhibition showcases a range of technologies and solutions across the transport value chain, including electric vehicles, charging infrastructure, fleet management systems and digital platforms. The event aims to serve as a platform for industry stakeholders, including fleet owners, state transport undertakings and policymakers, to discuss developments in the sector.

The inauguration was led by Miraben Patel, Mayor of Gandhinagar and Kaushik Jain, MLA of Dariapur. Over the three-day programme, the exhibition will host product launches, conferences and business meetings intended to facilitate collaboration within the passenger transport sector.

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SWITCH Mobility has introduced the SWITCH EiV9, a 9-metre electric bus, at the Prawaas 5.0 exhibition in Gandhinagar. The e-bus is designed for city transit, employee transportation, and school mobility.

It uses a Permanent Magnet Variable Reluctance (PMVR) motor that provides 213 kW of peak power. The Switch EiV9 features battery pack options, regenerative braking and dual-gun CCS2 charging. Safety features include a Fire Detection and Suppression System (FDSS) and disc brakes on the front and rear axles. The passenger cabin is equipped with air suspension, seating and USB charging points.

Ganesh Mani, CEO, Switch Mobility, said, "The launch of the all-new Switch EiV9 marks an important milestone in our growth journey as we strengthen our presence across key public and institutional mobility segments. We see strong momentum in this category, with the 9m electric bus market expected to grow at a CAGR of nearly 34% by FY30, driven by increasing demand. The EiV9 has been purpose-built to deliver what operators value most: higher efficiency, superior passenger comfort, advanced safety and lower operating costs. It represents our commitment to developing solutions that not only accelerate the adoption of electric mobility but also create tangible business value for our customers. At Switch Mobility, we believe the transition to cleaner transportation will be driven by practical choices that make both environmental and economic sense. This philosophy is reflected in our new #SwitchKaro campaign, which encourages fleet operators and businesses to make the switch to smarter, more sustainable mobility solutions."

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