Cholamandalam Investment and Finance Company Limited (CHOLA) and Eicher Polaris Pvt. Ltd have entered into a strategic agreement to extend finance to Multix consumers. Eicher Polaris Pvt. Ltd. has recently launched Multix, India’s first Personal Utility Vehicle, targeted at ‘Independent Businessmen’. Through this partnership, Chola intends to offer convenient, quick and easy access to attractive vehicle financing options to prospective Multix’s customers across India.
Multix is a purpose-built vehicle that has been created ground-up to offer the unique power of extreme 3-in-1 adaptability of family, business and power generation to the consumer. With an aim to drive disruptive growth in the segment, Multix will be launched in 30 cities to start with and vehicle deliveries will begin from August, 2015.
On entering into an agreement with Eicher Polaris Pvt Ltd., Chola becomes a preferred financier for Multix. With this, auto retail finance for the vehicle will now be available throughout the 534 branches of Chola and at all proposed dealerships of Multix across India.
Commenting about this partnership, Mr. Radhesh. C. Verma, Chief Executive Officer, Eicher Polaris Private Limited, said, “We have designed Multix and its entire ecosystem to cater to the unique needs of independent businessmen, who find other four wheel options sub-optimal. What makes Multix special, is its extremely adaptable 3-in-1 design and all road capabilities. 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”.
Speaking about the association, Mr. Vellayan Subbiah, Managing Director, Cholamandalam Investment and Finance Company Limited, said, “At Chola our aim is to provide the best financial solutions to help our customers enter a better life. The association with Eicher Polaris will help us to expand our customer offerings and cater to the needs of independent businessmen that Multix is designed for. Our wide presence across the country seeks to ensure to the last mile distribution.”
Chola’s drive to nurture innovativeness and entrepreneurship strengthens this tie up, providing new dimensions to the targeted segment which Multix aims at.