Mahindra Last Mile Mobility Limited (MLMML), India’s top electric commercial vehicle manufacturer, has entered into a Memorandum of Understanding (MoU) with Punjab National Bank (PNB) to enhance vehicle financing options for customers across the country.
The collaboration aims to ease access to credit for buyers of MLMML’s entire vehicle portfolio, supporting broader adoption of electric mobility and strengthening last-mile transportation networks. The partnership leverages PNB’s network of more than 10,000 branches—particularly strong across semi-urban and rural India—along with tailored financing schemes and flexible repayment plans.
MLMML recently crossed the 3 lakh commercial EV sales milestone, becoming the first company in India to achieve this figure.
Commenting on the partnership, Ms. Suman Mishra, Managing Director and CEO of MLMML, said the tie-up will help make advanced last-mile mobility products more affordable and accessible.
Shri Ashok Chandra, MD & CEO of PNB, added that the initiative underscores the bank’s commitment to supporting sustainable mobility solutions and simplifying the electric vehicle purchase journey.
MLMML, a subsidiary of Mahindra & Mahindra, offers a wide range of EV and ICE three- and four-wheelers, including its Treo range, Zor Grand, e-Alfa and the ZEO 4W SCV.
PNB, one of India’s oldest and largest public sector banks, continues to expand its role in financial inclusion and digital transformation through its vast branch network.
