Hindustan Motors joins hands with SBI for vehicle financing

CK Birla Group flagship company Hindustan Motors today said it has entered into a tie-up with the country's largest lender, State Bank of India, for retail financing of its iconic 'Ambassador' car model and 'HM Shifeng Winner' mini-truck.

CK Birla Group flagship company Hindustan Motors today said it has entered into a tie-up with the country's largest lender, State Bank of India, for retail financing of its iconic 'Ambassador' car model and 'HM Shifeng Winner' mini-truck.

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Under the Memorandum of Understanding signed between the two companies, SBI will provide finance for the two Hindustan Motors models for a period of one year, the auto-maker said in a statement.

"This is a coming together of two leaders –- SBI being the largest Bank in India and Hindustan Motors being the pioneer in the automotive business. This agreement is a strategic decision aimed at drawing synergies from the two partners," Hindustan Motors Chief General Manager (Sales and Marketing) Rattan Singh said.