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AMW ties up with State Bank of India for vehicle financing

June 13, 2013

A. Ramasubramanian President AMW Motors Ltd and Ms Saloni Narayan SME Business Unit SBI signing the MOU in presence of Sajal Gupta CFO AMW Motors Ltd.
Mumbai: India's third largest heavy commercial vehicle manufacturer, AMW Motors Ltd (AMW) announced that the Company had entered into an agreement with the State Bank of India for the financing of sales of the entire range of AMW Medium & Heavy commercial vehicles. This national level tie-up through State Bank of India's network of over 13,000 branches across the country will provide a great fillip to AMW' sales.

According to the MOU, SBI branches will offer competitive rates of interest to customers for the purchase of any model from the M&HCV range of AMW vehicles. The facility will be available on Fully Built vehicles, Chassis as well as bodybuilding. The agreement also provides for loan support for registration, taxes and Insurance. Existing customers of AMW as well as First Time Users (FTU) can avail of the facility.

SBI spokesperson while confirming the agreement said that it would make available more and easier financing opportunities as SBI is India's largest banking institution with a network that reach even the remotest destination.

Mr. A. Ramasubramanian, President AMW Motors Ltd said " SBI's vast urban and rural network will enable truck operators from all over the country to access easy and competitive financing. We will organize joint customer meets with bank officials and work closely with them to ensure that the benefits of this partnership will be made available to all commercial vehicle buyers."

AMW expects that this agreement with SBI will act as a great incentive for its dealers and sales offices in the country and help continue its aggressive growth plans.

AMW Profile
AMW Motors (AMW) is India's third largest manufacturer of heavy commercial vehicles and has achieved a unique position in India's transportation sector through innovative engineering and customer orientation.

AMW is the fastest growing truck brand in India with an annual volume growth of over 100% for the last three years. In addition AMW has a dominant presence in the fast growing Tipper segment. Its vehicles are the preferred choice in the mining, construction and infrastructure sectors, where they operate under very arduous road and load conditions.

The company has a widespread and growing dealer and service network across India with 123 dealerships and over 1,500 touch points. This network includes sales and service centres, authorized service outlets, mobile vans, workshops and a 24X7 helpline called 'AMW Seva' which ensures a rapid response to customer needs.

Wide Product Range
AMW offers trucks ranging from 16 to 49 tons and has pioneered several segments in the Indian CV market. The AMW 49 ton model created the segment and was India's largest tractor-trailer at launch. In addition, AMW also created the construction and mining segments in the Indian CV market with its range of tippers.

AMW continued its winning streak by winning, "Tipper of the year Award" 2013 for AMW 2528 Tipper. AMW also won the prestigious 'CV Maker of the Year Award' 2012. In addition, AMW won the 'Truck of the Year' award in January 2008. The company also received the coveted 'CV Innovation of the Year 2009-10' award for its 3123 model. AMW CV Applications was given the 'Truck Application Builder of the Year- 2010' award for its Tranztar brand of fully built vehicles.

Manufacturing Facilities
AMW's fully integrated manufacturing facility in Bhuj, Gujarat, has a planned capacity of 50,000 commercial vehicles per annum. The facilities include a fully integrated assembly line, contemporary cab and paint shops and world class testing facilities. AMW's 200-seat research centre focuses on research and development of new products and technologies that impact performance characteristics, safety, environment and comfort.

For additional information, please contact:

Mr Sadique Shaheedi
General Manager - Brand and Marketing
Phone:+91 22 33826161 / 6165
Email:communications@amwmotors.com

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