Ashok Leyland, the flagship of the Hinduja Group and one of India’s leading commercial vehicle manufacturers, has signed a memorandum of understanding (MoU) with Drivn, a provider of financing and leasing solutions for electric commercial vehicles, to offer customised financial solutions to customers buying Ashok Leyland’s electric vehicles.
The partnership is aimed at making electric truck ownership more accessible by providing customers with flexible financing, leasing and fleet ownership solutions, along with convenient repayment options.
Under the partnership, Drivn will provide end-to-end financial solutions to Ashok Leyland’s electric vehicle customers. The collaboration is expected to help reduce the upfront capital requirement for businesses while providing greater operational flexibility.
The MoU was signed by Ashok Leyland Head, Alternate Energy, Niruban M and Drivn CBO & Co-founder Alpna Jain, in the presence of senior teams from both companies.
Flexible financing for e-trucks
The partnership seeks to accelerate the adoption of electric commercial vehicles by addressing one of the key challenges for fleet operators and businesses, the initial investment required to acquire electric vehicles.
Through customised financing and leasing options, the companies aim to provide solutions tailored to diverse business requirements. The initiative will also offer fleet ownership solutions and repayment structures designed to improve affordability and ease of ownership.
“Ashok Leyland is delighted to partner with Drivn to offer attractive and accessible financing solutions to our EV customers. This strategic partnership will further strengthen our market presence by making our innovative range of electric commercial vehicles more accessible to businesses across the country. Backed by cutting-edge technology and delivering an industry-leading total cost of ownership, our products are designed to maximise customer profitability. We remain committed to providing best-in-class mobility solutions and an exceptional ownership experience for our customers,” said Ashok Leyland, Head, Marketing Sudip Dhali.
Focus on accelerating EV adoption
For Drivn, the partnership is aimed at simplifying the financing process for businesses looking to transition to electric commercial vehicles.
“We are pleased to partner with Ashok Leyland to offer seamless electric vehicle financing solutions. This collaboration reinforces our commitment to supporting businesses with accessible, tailored financial solutions that simplify vehicle ownership and enable growth. We aim to make electric commercial vehicle ownership simpler, more accessible, and more rewarding for our customers,” said Drivn CBO & Co-founder Alpna Jain.
Ashok Leyland has been expanding its presence in the electric commercial vehicle segment with a growing portfolio of electric trucks and buses designed for different customer and operating requirements.
The company is focusing on accelerating the transition towards zero-emission mobility while developing cleaner, more efficient and future-ready transportation solutions for the Indian market.
The partnership with Drivn is expected to complement this strategy by addressing the financing needs of businesses and fleet operators, potentially lowering the entry barrier for electric commercial vehicle adoption.