Hitachi Capital Vehicle Solutions is changing its name to NOVUNA Vehicle Solutions, phasing into the new moniker by March 2022. The move follows parent company Hitachi’s merger with Mitsubishi UFJ Lease and Finance Company Limited (MUL), a global diversified financial group.

According to a company spokesman, the merger “provided an ideal opportunity to create a bolder, fresher brand” more aligned Hitachi Capital Vehicle Solution’s business. The company stressed it has no connection with Mitsubishi Motors.

The new name is derived from the Latin words “Novo” – “to make new” and “una” –together.”

As NOVUNA Vehicle Solutions, the company pledges to “invest in new products and applications that make it easier for our customers to make the transition to a cleaner, healthier, and more sustainable future with electric vehicle leasing. We'll continue to grow and develop our relationships with all manufacturers, giving [customers] access to some of the most competitive tactical deals on the market.”