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Daimler India Commercial Vehicles (DICV), a wholly-owned subsidiary of Germany's Daimler AG, has signed an agreement with Karur Vysya Bank to provide commercial vehicle loans.
Apart from Daimler's own captive financing brand, 'BharathBenz Financial', Karur Vysya Bank (KVB) becomes a key financing partner for BharatBenz along with others adding substantial choice and value for customers, DICV said in a statement.
Commenting on the development, DICV CEO and MD Erich Nesselhauf said: "This alliance allows us to intensify our presence in vital commercial vehicle markets in Andhra Pradesh, Telangana and Tamil Nadu by offering attractive financial support."
He further said, "Having chosen KVB as a partner in financing BharatBenz trucks is the next step in moving towards and expanding our business."
KVB General Manager M Balachandran said collaboration between KVB and DICV would provide customers easy and seamless financing solutions.
DICV produces medium and heavy-duty commercial vehicles for the Indian market under the BharatBenz brand.
