Maruti Suzuki, Chola in financing pact

CHENNAI: Maruti Suzuki India signed a Memorandum of Understanding (MoU) with Cholamandalam Investment and Finance Company (Chola), the financial services arm of Murugappa Group, to facilitate inventory financing for its dealer partners.

The new alliance will empower 3,600+ Maruti Suzuki dealerships across the country with comprehensive inventory funding options for their working capital requirements, a release said.

The MoU was signed in the presence of Bhuvan Dheer, executive vice president — Sales and Network and Vishal Sharma, GM, Allied Business, Maruti Suzuki and Ravindra Kundu, ED, Chola along with other senior members from both the organisations.

Shashank Srivastava — senior executive officer, Marketing & Sales, Maruti Suzuki India Limited, said, “We have worked closely with Cholamandalam in developing personalised offers and end-to-end working capital solutions for our dealer partners across the country.”