Hitachi Capital Fleet Solutions is rebranding and will be known as Novuna Vehicle Solutions.
The leasing company, ranked inside the top 10 for fleet size in the UK with over 95,000 vehicles on its fleet, will be renamed by April 2022. Parent company Hitachi Capital (UK) PLC will also change its legal name to Mitsubishi HC Capital UK PLC.
The new trading title follows the merger earlier this year of Hitachi Capital Corporation with the Mitsubishi UFJ Lease and Finance Company to form Mitsubishi HC Capital.
According to a company communique issued today (September 20,2021), the rebranded Nuvona name means ‘new together’ and is created from the Latin words Novo for ‘new’ and Una for ‘together’ and provides the opportunity for Novuna to leverage the size and scale of its parent company.
“The vehicle leasing market is rapidly changing and so are we,” commented Jon Lawes, managing director of Hitachi Capital Vehicle Solutions. “As one of the UK’s largest vehicle leasing companies, working with OEMs right across the spectrum to supply and service fleets of all complexities whilst also growing our personal leasing offering, the Novuna brand provides our business with a clear point of differentiation in the motor industry.
“Our new brand name is readily aligned to our market leading decarbonization strategy which is delivering cost and environmental benefits for our customers. Novuna perfectly captures the proposition of our business, working together, and with our customers to become market leaders in electric vehicles and complements our ambition to electrify our entire car and small van fleet by 2030.
“The rebrand marks the start of an exciting new era for us and our customers.”
Each of the other business divisions within Hitachi Capital UK will also operate under Mitsubishi HC Capital UK PLC’s Novuna trading style. These include Novuna Consumer Finance, Novuna Personal Finance, Novuna Business Finance and Novuna Business Cash Flow (formerly Invoice Finance).
Meanwhile the European division will adopt the Mitsubishi HC Capital trading style as part of its collaboration with parent company, Mitsubishi HC Capital.
Lawes added that the rebranding allowed the merged business to plan for significant further growth based around sustainability and technological advancements.