Macchapuchre, Civil banks to finance 70 percent for Paggio

April 11: Vivek Automobiles has signed an agreement with Machhapuchre Bank and Civil Bank for investing in Piaggio three-wheelers. The banks have agreed to finance up to 70 percent for the purchase of the three-wheeler brand.  

The agreement was signed by Vivek Dugar, CEO of Vivek Automobiles Pvt Ltd, Sujit Kumar Shakya, chief business officer of Civil Bank, and Sarju Thapa, chief business officer of Machhapuchre Bank. The three-wheelers can be used to carry passengers and also carry loads from one place to another. The transport vehicle can be operated with small investment.

According to Vivek Dugar, bringing the three-wheelers in Kathmandu will contribute in creating employment. Vivek Automobiles is the authorised distributor of Piaggio in Nepal.