Ashok Leyland forms 3 JVs with Nissan

This follows the signing of the master co-operation agreement between the two companies in October 2007.

In Ashok Leyland Nissan Vehicles, the vehicle manufacturing company, Ashok Leyland will own 51 per cent and Nissan Motor 49 per cent. In Nissan Ashok Leyland Powertrain, Nissan will hold 51 per cent and Ashok Leyland will hold 49 per cent. Both the companies will be equal partners in Nissan Ashok Leyland Techonologies, the technology development company.

The aggregate investment in all three companies will be around Rs 2,415 crore. The enterprise will involve a capacity of 100,000 vehicles in the first phase and will be scaled up subsequently. The plant is expected to start production from 2010-11.

R Seshasayee, managing director, Ashok Leyland said, "The current growth plans of Ashok Leyland involve not only our slated capacity additions and new product launches but also our entry into fast-growing LCV segment."