Mahindra Last Mile Mobility, Punjab National Bank Sign MoU for EV Financing

Mahindra Last Mile Mobility Limited (MLMML), India’s leading electric three- and four-wheeler commercial vehicle manufacturer, has signed a Memorandum of Understanding with Punjab National Bank (PNB) to provide tailored financing solutions for its entire range of last-mile mobility vehicles.

The partnership will leverage PNB’s network of over 10,000 branches, with strong presence in semi-urban and rural areas, to offer customised loan schemes, competitive interest rates and flexible repayment options. This will cover MLMML’s electric models such as Treo, Zor Grand, e-Alfa and the newly launched ZEO 4W small commercial vehicle, as well as its petrol, CNG and diesel offerings including Alfa and Jeeto.

MLMML recently became the first company in India to cross cumulative sales of 3 lakh electric commercial vehicles.

Suman Mishra, Managing Director & CEO, Mahindra Last Mile Mobility Limited, said the tie-up will make advanced last-mile vehicles more affordable and accessible, supporting the company’s growth in the segment.

Shri Ashok Chandra, MD & CEO, Punjab National Bank, stated that the collaboration will simplify the purchase process for customers and contribute to wider adoption of electric vehicles across the country.

Also read: Tata Sierra Production Begins at Automaker's Sanand Plant