Commercial vehicles major Ashok Leyland Ltd on Wednesday said it has signed a Memorandum of Understanding (MoU) with defence systems company Elbit Systems in Israel.
In a statement issued here, Ashok Leyland said as per the agreement it will provide High Mobility Vehicles (HMV) for mounting Elbit Systems' artillery guns and systems.
"The integrated systems are targeted for worldwide export markets. Ashok Leyland has expertise in design, manufacturing of logistic vehicles, combat support HMVs and armoured vehicles for the defence forces," the statement said.
Speaking on this milestone partnership, Vinod K. Dasari, MD, Ashok Leyland, said: "Ashok Leyland is proud to be associated with Elbit Systems and we are certain this partnership will expand our reach globally. It underlines our capabilities of making and designing in India, for the world.
"This step is also in line with our strategy of increasing contribution from our defence business which will help us de-risk our overall business," Dasari was quoted as saying in the statement.
--IANS
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