MLMML and PNB Sign MoU for Vehicle Financing Solutions

Mumbai- Mahindra Last Mile Mobility Limited (MLMML)., an electric commercial vehicle manufacturer, and Punjab National Bank (PNB), a public sector bank, have signed a Memorandum of Understanding (MoU) to offer tailored vehicle financing solutions. This partnership is aimed at improving access to finance and accelerating innovation in the last-mile connectivity segment.

MLMML recently achieved a landmark milestone of 3 lakh commercial EVs sold — a first for any company in India. Leveraging PNB’s extensive network of over 10,000 branches, particularly in semi-urban and rural markets, customers will benefit from wide reach, customised financing schemes, and convenient repayment options. Together, MLMML and PNB will enable seamless financing across the entire MLMML vehicle range.

Ms. Suman Mishra, Managing Director and CEO of Mahindra Last Mile Mobility Limited, said, "We are pleased to partner with PNB and enable access to their comprehensive finance solutions for our valued customers. This collaboration will support MLMML’s commitment to making advanced last mile mobility vehicles affordable and seamless for all."

Mr. Ashok Chandra, MD & CEO, PNB, said, “We are delighted to join hands with Mahindra Last Mile Mobility Limited to make eco-friendly transportation solutions more accessible. This partnership reflects our dedication to sustainable practices and customer-centric financial offerings. Together, we aim to simplify the purchase journey for customers and accelerate the adoption of electric vehicles in India.”

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