| New Delhi, Jun 7 (UNI) Hindustan Motors Ltd (HML), the flagship company of the C K Birla group, today announced its tie-up with public sector lender State Bank of India (SBI) for vehicle financing.
The bank will provide loan for the automobile giant's new mini truck 'Shifeng Winner' and 'Ambassador car', said a company statement.The agreement was signed by the senior management of HML and SBI. ''This is a coming together of two leaders--SBI being the largest Bank in India and HML being the pioneer in the automotive business. This agreement is a strategic decision aimed at drawing synergies from the two partners,'' said HML Chief General Manager (Sales and Marketing) Rattan Singh.
Mr. Singh said the company's mini truck 'Winner” is the first LCV of the country in CNG with BSIV version which has a powerful 4 cylinder 1800 cc engine that ''assures best operating economics'' and income to its customers apart from low running cost. As per Mr Singh, Winner is successfully running as security cash vans, tippers for waste collection, refrigerated vans and cargo vehicle. To increase the presence of the company in foreign market, he said, HML has teamed up with Intraco Group of Bangladesh for distribution of Winner's CNG version in that country.''Once we have the success in this market and carry some experience and learning, we shall move to other markets like Nepal and Sri Lanka,'' he added.
SBI has a large network presently comprising over twelve thousand five hundred branches across the country.
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