CHENNAI: City-based Cholamandalam Investment and Finance Company (CHOLA) has tied up with Eicher Polaris for financing Eicher’s Multix product.
Touted by Eicher as India’s first Personal Utility Vehicle (PUV), Multix has been targeted at the family/businessman - retailing at Rs 2.3 lakh and designed offer 3-in-1 adaptability of Family, Business and Power generation to the consumer.
With an aim to driving disruptive growth in the segment, Multix vehicle deliveries will begin in August, 2015.
Chola’s strategic tie up with Eicher will see the finance company offer access to vehicle financing options to prospective Multix’s customers across India.
Vellayan Subbiah, Managing Director, Cholamandalam Investment and Finance Company Limited, said, “The association with Eicher Polaris will help us to expand our customer offerings and our wide presence across the country seeks to ensure to the last mile distribution.”
“Our strategic tie up with Chola ensures customized retail finance programs, keeping in mind the needs of our target consumer. This is a step towards making the Multix solution even more attractive and accessible to the Independent Businessmen,” said Radhesh C Verma, Chief Executive Officer, Eicher Polaris.
The agreement with Eicher Polaris makes Chola a preferred financier for Multix and auto retail finance for Multix will now be available throughout the 534 branches of Chola and at all proposed dealerships of Multix.