Leasing company Hitachi Capital Vehicle Solutions is to change its name to Novuna Vehicle Solutions by April 2022.

It said the rebranding would coincide with Hitachi Capital (UK) PLC altering its legal name to Mitsubishi HC Capital UK PLC, following the merger earlier this year of Hitachi Capital Corporation with Mitsubishi UFJ Lease and Finance Company Limited, forming Mitsubishi HC Capital Inc.

It said the rebranding would mark the start of an accelerated growth plan under its new parent company.

Managing director Jon Lawes said: “The vehicle leasing market is rapidly changing and so are we. 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.

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