Tata Motors, India’s largest commercial vehicle manufacturer, has signed a memorandum of understanding (MoU) with ESAF Small Finance Bank to offer tailored financing solutions to its commercial vehicle customers.

The deal will initially focus on finance for small commercial vehicles (SCVs) and light commercial vehicles (LCVs) and will be gradually extended for Tata Motors' entire commercial vehicle portfolio.

To meet the changing needs of the logistics and mass mobility segments, Tata Motors offers a wide range of sub-1-tonne to 55-tonne cargo vehicles and 10-seater to 51-seater mass mobility solutions. These vehicles range in small commercial vehicles and pickup, truck and bus segments. The company has a vast network of over 2,500 touchpoints, staffed by skilled professionals and supported by convenient availability of Tata Genuine Parts.

Vinay Pathak, Vice President & Business Head – SCV&PU, Tata Motors, said, “Our partnership with ESAF Small Finance Bank enhances access to seamless financing solutions for our customers in deeper pockets of the country. It reiterates our commitment to support our customers with tailored and efficient solutions, empowering them to meet their business goals. This collaboration further strengthens our endeavour to boost entrepreneurship and job creation, particularly in first- and last-mile logistics.” 

Hemant Kumar Tamta, Executive Vice President, ESAF Small Finance Bank, added, “We are excited to partner with Tata Motors, to offer tailored financing solutions to customers. Our shared vision of empowering entrepreneurs aligns perfectly with this partnership. With our extensive network and expertise in financial inclusion, we are confident that this partnership will stimulate significant growth and support the ambitions of commercial vehicle businesses.”

Omega Seiki, a leading electric vehicle manufacturer, has announced the launch of its second flagship dealership in the country.

The new facility is located in New Delhi will showcase the company’s range of electric two- and three-wheelers for cargo and passenger offering. This follows the company’s first company-owned dealership inaugurated in Pune in August 2021.

At present, the EV maker claims it has over 200 dealerships and plans to cross the 250 mark by the end of FY2025.

The facilities in addition to selling new product offerings will also provide aftersales services, charging solutions and customer support.

Vivek Dhawan, Chief Strategy Officer, Omega Seiki, said, "This dealership is a testament to Omega Seiki's dedication to revolutionising the Indian electric mobility space. By expanding our footprint, we aim to make electric vehicles more accessible to a wider audience, contribute to reducing the nation’s dependency on fossil fuels, and take a major step toward a greener, more sustainable future. Our flagship showrooms are designed to be much more than just retail spaces – they are experience centres and learning hubs for both customers and new dealers. Here, we not only showcase the latest in electric vehicle technology, but we also create an immersive environment where new dealers can gain firsthand knowledge and expertise. This hands-on approach ensures that our network of partners is well-equipped to deliver the highest level of service and support to customers, helping to accelerate the adoption of electric mobility across the country."

Ritika Narang, Founder, Om Sai Ram Motors, said, “Our new flagship showroom is not just a space to showcase electric vehicles – it's a platform to educate and engage customers on the transformative power of green mobility. By providing personalised experiences, we aim to demystify electric vehicles and empower consumers with the knowledge they need to make informed choices. As the EV industry continues to grow, it's essential that we not only offer cutting-edge products but also increase awareness and drive a deeper understanding of the benefits electric mobility brings to our communities and the environment.”

Ashok Leyland, a leading commercial vehicle manufacturer in India, has signed a Memorandum of Understanding (MoU), with Madhya Pradesh Gramin Bank to enter into a strategic vehicle financing partnership for its customers.

This will enable the partners to provide customised financial solutions to customers.

The MoU was signed by Viplav Shah, Head - LCV Business, Ashok Leyland and Gyanendu Kumar, General Manager, Madhya Pradesh Gramin Bank in the presence of R.C Behera, Chairman, Madhya Pradesh Gramin Bank.

As per the understanding, Madhya Pradesh Gramin Bank will provide end-to-end financial solutions to Ashok Leyland customers.

Viplav Shah said, “At Ashok Leyland, we are focused on continuously elevating the customer experience and providing unmatched value. Our collaboration with Madhya Pradesh Gramin Bank enables us to offer comprehensive financing solutions, with flexible and customised repayment plans, ensuring greater convenience for our customers. Our products, featuring innovative technology, offer industry-leading total cost of ownership, ensuring maximum profitability for our customers. We remain committed to delivering exceptional customer experiences”

R C Behera said, “Madhya Pradesh Gramin Bank is pleased to partner with Ashok Leyland to offer seamless vehicle financing solutions. This association reflects our dedication to serving the diverse financial needs of commercial vehicle customers. We are confident that this collaboration will enable us to extend our reach and provide tailored financing options to support the growth of businesses in the commercial vehicle segment.”

Daimler India Commercial Vehicles (DICV), a wholly-owned subsidiary of Daimler Truck AG, has appointed Michael Moebius as the President and Chief Procurement & Supply Chain Officer with affect from 1 November 2024. He will succeed Muthu Maruthachalam C.

Moebius began his career with Daimler in 1990 and has since held a variety of positions with Daimler Buses and Mercedes-Benz Cars. He has over 30 years of international experience in the passenger and commercial vehicle industries, including valuable time spent in Brazil, Vietnam, Iran, India and Japan. He played a significant role in DICV from 2010 to 2016, setting international quality standards and promoting excellence in both processes and products. Moebius oversaw quality efforts for Mitsubishi Fuso, DICV, PABCO and important CKD assembly sites worldwide while serving as the Head of Quality Management at Daimler Truck Asia (DTA) in Japan. He has played a key role in improving product quality, lowering warranty costs and spearheading creative projects like ‘Proactive Sensing’, a cutting-edge big data solution for early failure detection.

Satyakam Arya, Managing Director & CEO, Daimler India Commercial Vehicles, said, "We are delighted to welcome Michael back to DICV at such a transformative time for our company. His profound understanding of our operations, coupled with his vast international experience, makes him exceptionally well-suited to lead our Procurement & Supply Chain Management. Michael’s proven expertise in driving quality, innovation and operational excellence aligns seamlessly with our strategic vision. I am confident that under his leadership, we will build a more agile, efficient and competitive supply chain, positioning DICV to meet the evolving demands of the market with greater resilience and agility."

Moebius said, “I am deeply honoured to rejoin DICV, a company that has significantly shaped my professional journey. Over the years, DICV has built a strong reputation for excellence in innovation, quality and operational efficiency, and I am looking forward to elevating procurement and supply chain strategies, leveraging advanced technologies, strengthening supplier partnerships and ensuring cost-effectiveness. I am excited to contribute to this new chapter of the company’s journey by enhancing resilience, fostering innovation and supporting the company’s long-term vision.”

To further strengthen its presence in the LCV category, Ashok Leyland has pushed its Bada Dost LCV into the 3.5 to four tonne bracket. Until now, the forward-control LCV was available up to the tonnage point of 3.5 tonne. The move follows a certain shift in the commercial vehicle manufacturer’s product positioning in the recent times where it introduced the 15 m long multi-axle front-engine bus called the Garud. 
Registering a 37 percent increase in net profit at INR 7.7 billion during the second quarter of the current financial year (on a year-on-year basis), Ashok Leyland introduced the 19 tonne Boss e-truck, 55-tonne electric tractor head and a 12 m long ultra-low-floor diesel bus in the respective period.  At the recent Mini Expos the Hinduja Group company organised across the country, it prominently displayed the 15 m front-engine multi-axle bus for long distance travel called as the Garud. 
Experiencing good traction in the bus segment where it is a market leader in India, Ashok Leyland registered an EBITDA for Q2 FY2024-25 at 11.6 percent (INR 10.17 billion) as against 11.2 percent (INR 10.80 crore in the corresponding period last fiscal. 
Commanding a M&HCV market share of over 31 percent, according to sources close to the company, the commercial vehicle manufacturer sold 25,685 units in Q2 FY2024-25 as compared to 29,947 units in Q2 FY2023-24. Export volumes were up 14 percent at 3,310 units during Q2 FY2024-25. 
The power solutions and aftermarket business performed well and is expected to contribute handsomely to the company’s overall revenue in the current fiscal. 
Expanding its innovative product offerings in Q2 FY2024-25 by launching new products in the tipper, bus, haulage and LCV segments, the company continues to focus on expanding its distribution network in newer geographies. 
Speaking about the Q2 FY2024-25 performance, Dheeraj Hinduja, Executive Chairman, Ashok Leyland, said “The Indian Economy is expected to do well in the second half which would benefit our industry. We remain optimistic about industry prospects for H2 on back of strong macroeconomic fundamentals, supported by resumption of Government spending in Capex and good monsoons. Our robust all-round performance in Q2 is backed by our technological and cost leadership. Internationally as well, we are intensifying our expansion strategy in our focus markets of SAARC, Middle East, Africa and Asia, aimed at posting the best performance ever during this fiscal. We continue to invest in new products with alternative fuels. Switch is doing well with an order book of nearly 2000 buses.”