Kolkata, March 8 (IANS) Asset finance company Magma Fincorp Ltd Monday signed an agreement with VE Commercial Vehicles (VECV). The tie-up is for financing Eicher-branded trucks and buses.
The VECV is a 50-50 joint venture between the Volvo Group and Eicher Motors, a company statement said.
‘The tie up with VECV is in sync with our growth trajectory and we are looking forward to a successful partnership. We will finance VECV’s world-class medium and heavy-duty Eicher range of commercial vehicles through our network of 153 offices pan India,’ said Sanjay Chamria, vice chairman and managing director, Magma Fincorp Ltd.
Magma Fincorp has a strong infrastructure in semi-urban and rural India. Magma offers finance for new and used commercial vehicle, passenger cars and utility vehicles, construction equipment and tractors.