Maruti Suzuki acquires stake in homegrown AI startup Amlgo Labs
Maruti Suzuki India on Saturday announced it has invested in Amlgo Labs Private Limited, an Artificial Intelligence and Machine Learning (AI-ML)-led startup.
As the country comes back into action with the Unlock 1, Maruti Suzuki India (MSI) is trying to push its business in various forms. Keeping the same in view, country’s most popular automaker has announced that it has joined hands with Mahindra Finance for vehicle loans. Earlier, MSI had tied up with HDFC.
With this collaboration, these two firms are aiming to ease the availability of finance for customers looking at personal mobility solutions during the ongoing COVID-19 pandemic.
As per the tie-up, customers can avail wide options for getting their car financed from Mahindra Finance, MSI said in a statement.
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“Mahindra Finance is a very well networked non-banking finance company (NBFC) across India and has the expertise in lending across all profiles including semi-rural, rural and no-income proof customers,” MSI Executive Director (Marketing and Sales) Shashank Srivastava said.
More than one-third of Maruti’s retail sales come from rural India, he added.
He further said that customers will benefit from the range of offers like buy now and pay later, step up EMI and balloon EMI.
MSI has a dealer network of over 3,086 showrooms across the country while Mahindra Finance too has a network of 1,450 branches.
The partnership would support all the customers segments including salaried, self-employed, agriculturists and businessmen to purchase cars, the auto major said.
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