Hitachi Capital Vehicle Solutions, part of Hitachi Capital (UK) Plc, is to rebrand as Novuna Vehicle Solutions, meaning ‘new together’.

The rebrand marks the next phase for the business, further growing its role in the EV sector

The rebrand – which completes by April 2022 and is intended to mark a new era – follows the merger earlier this year of Hitachi Capital Corporation with Mitsubishi UFJ Lease and Finance Company Limited, forming Mitsubishi HC Capital Inc.

In line with the merger, Hitachi Capital (UK) Plc is also changing its legal name to Mitsubishi HC Capital UK Plc.

The announcement comes on the back of the change to new MHC Mobility branding earlier this summer for Mitsubishi HC Capital Inc’s subsidiaries in Europe.

Hitachi Capital Vehicle Solutions’ rebrand to Novuna is the first stage of the business’s transformation as it accelerates growth plans under the new parent company. This includes further growing its role in the electric vehicle sector.

“The vehicle leasing market is rapidly changing and so are we,” said Jon Lawes, managing director. “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 decarbonisation 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.”

Novuna added that the backing of Mitsubishi HC Capital Inc will give it the opportunity to leverage the size, scale and expertise of its new parent company in order to realise the company’s ambitions.

“The rebrand marks the start of an exciting new era for us and our customers,” continued Lawes.

Each of the other business divisions within Hitachi Capital UK will also adopt Mitsubishi HC Capital UK Plc’s Novuna trading style. This includes Novuna Consumer Finance, Novuna Personal Finance, Novuna Business Finance and Novuna Business Cash Flow (previously Invoice Finance).