Page 7 - Ashok Leyland

Keen to get external investment for EV arm Switch: Ashok Leyland MD

Hinduja Group flagship firm Ashok Leyland is keen to get external investments for its electric vehicle arm Switch Mobility but only from 'the right strategic partner', and it will not shy away from investing on its own till such an ally is found, according to its Managing Director and CEO Shenu Agarwal. While Switch India is likely to be cash neutral or cash positive going forward, on an operating level at least, for Switch UK some more investments may be required in FY25, with the European and UK markets still not going that strong, he told analysts. "We are very keen on getting external investments also, but we want to make sure that we have the right strategic partner with us. I mean, we do it at the right valuation. So right now, the focus is to get Switch into a very, very strong mode by developing products, by maturing our technology on both the bus side and the LCV side," Agarwal said. He was responding to a query on whether the current tough funding environment could delay .

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Ashok Leyland plans to invest Rs 1,200 crore into Switch Mobility

In September 2023, Switch India launched its state-of-the-art e-LCVs

Ashok Leyland's Q2 net profit zooms over two-fold to Rs 569 crore

The company's revenue also surged by 19 per cent to Rs 11,429 crore

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Here's a list of Diwali picks recommended by top brokerage and research firms that can help you build your portfolio for Samvat 2080.

Ashok Leyland delivers AVTR 1922, India's first LNG-powered haulage truck

With this, Ashok Leyland becomes the first Indian Original Equipment Manufacturer (OEM) to unveil an in-house LNG engine compliant with BS VI Stage II emission standards

Ashok Leyland posts 13% rise in total sales to 16,864 units in October

Commercial vehicle maker Ashok Leyland on Wednesday reported a 13 per cent increase in total sales at 16,864 units in October as compared to 14,863 units in the same month last year. Domestic sales were up 14 per cent at 15,759 units as against 13,860 units in October 2022, Ashok Leyland said in a statement. Sales of medium and heavy commercial vehicles in the domestic market were at 9,411 units as against 8,189 units in the year-ago period, up 15 per cent, it added. Light commercial vehicle sales in the domestic market last month stood at 6,348 units as against 5,671 units in the year-ago period, up 12 per cent, the company added.

Ashok Leyland expects 20% revenue from exports in 5 years: Dheeraj Hinduja

Hinduja group-owned commercial vehicles maker Ashok Leyland expects over one-fifth of its revenue to come from exports in the next five years, according to company's Executive Chairman Dheeraj Hinduja. The thrust is to see Ashok Leyland among the top 10 global original equipment manufacturers (OEM), said Hinduja at Carlton House Terrace, London, UK, during a select media roundtable with the Hinduja family members here. The company, which is investing around Rs 1,000 crore to set up a bus manufacturing facility near Lucknow in Uttar Pradesh, expects the first vehicle to roll out within 15-18 months. Besides, Ashok Leyland has plans to enter Europe with electric buses in 2025, said Hinduja. As per its strategy, the company would focus only on the commercial vehicle segment and has no plans to enter the passenger vehicle segment as of now, he said. There is "room to grow with commercial vehicles" and a "much better growth path" in the segment, said Hinduja. In financial year ended M

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Ashok Leyland bags order for 1,666 new buses from Tamil Nadu STUs

Ashok Leyland is the fourth-largest manufacturer of buses in the world and India's largest bus manufacturer

Ashok Leyland launches ecomet Star 1915 to cater to long haul customers

Hinduja Group flagship company Ashok Leyland has unveiled the ecomet Star 1915 truck in the intermediate commercial vehicle segment, targeting long-haul customers, the company said on Wednesday. The truck with a GVW (Gross Vehicle Weight) of 18.49 tonne is positioned to address the logistical demands of customers engaged in e-commerce, parcel delivery, transportation of fresh produce among others. The launch of the new truck comes in the backdrop of the industry anticipating a growing need for higher payload capacity across applications. Ashok Leyland is complimenting the rapid expansion of the ICV segment by consistently introducing unique and innovative products. We are delighted to unveil the ecomet Star 1915 truck with GVW of 18.49T, equipped with the proven 150hp H4 engine, ideally suited for long-distance applications, the company's President - Medium Heavy Commercial Vehicle President Sanjeev Kumar said. The new ecomet Star 1915 truck assures remarkable fuel efficiency, fast

Ashok Leyland launches the new ecomet Star 1915 truck with 18.49T GVW

The latest truck by the company is suited for long-distance applications, designed for fuel efficiency and faster turnaround time

Ashok Leyland wins order for 1,282 buses from Gujarat state transporter

This order, one of the largest by a state transport undertaking for a single original equipment maker (OEM), will help Ashok Leyland strengthen its dominant position in the Indian bus market

Ashok Leyland to set up bus plant in Uttar Pradesh, invest Rs 1,000 cr

Upon commencement of operations, the manufacturing facility will initially have the capacity to produce 2500 buses per year

Ashok Leyland, UP govt sign MoU to set up greenfield bus plant in state

Under this partnership, Ashok Leyland will focus on production of electric buses, and will assemble other vehicles powered by available fuels, as well as emerging alternative fuels

Auto index hits speed bump, loses 1.8% after Nitin Gadkari's flip-flop

Tata Motors, Mahindra & Mahindra and Ashok Leyland fell 2.19 per cent, 1.55 per cent and 2.68 per cent, respectively

'Payment security mechanism, subsidies to help electric mobility growth'

A well defined payment security mechanism for long-term contracts would help support large-scale rollout of electric buses in the country, according to Ashok Leyland Chairman Dheeraj Hinduja. In an interaction with PTI, he also emphasised on the importance of subsidies in faster adoption of electric mobility in India. "So I would say two areas -- one, the subsidies or whatever benefits that the government can consider for promoting electric vehicles is of course welcome, and then some type of payment security mechanisms are also required. It would help the industry to grow at a faster pace," Hinduja said. He was replying to a query to list initiatives which could aid in the growth of electric vehicles in the country. Hinduja said the government is already looking into some form of security of its payment structure. "When you're looking at these GCC (Gross Cost Contracting) contracts for 10-12 years, the OEMs do want some security of how to ensure that the payments will happen durin

Spot in top 10 manufacturers, Net Zero status: Ashok Leyland outlines goals

At present, the company is the 20th largest commercial vehicle manufacturer in the world

Ashok Leyland marks 75 years with e-LCV launch, signs deal with 16 firms

Signs deal with 16 companies, including Amazon and Flipkart, for supply 13,000 vehicles in the new IeV series

Vision to be among top 10 global commercial vehicle players: Ashok Leyland

Hinduja group flagship Ashok Leyland on Thursday said its aiming to be among the top 10 global commercial vehicle manufacturers in the near future. According to company chairman Dheeraj Hinduja, the heavy commercial vehicle maker is looking at exploring newer markets. Top officials of Ashok Leyland were here to mark the 75th anniversary celebrations of the city-headquartered company. "You know our vision is clear and we have discussed it many times, that is to be a global Top 10 commercial vehicle player. Currently, we are at No 20..." Hinduja told select reporters. Elaborating, he said the company's sales volume was growing in the Indian market and the 'Avtar' product developed by Ashok Leyland was a modular product, and such products have been developed with a mindset to serve international markets. "What is critical for us is to create the right network outside of India, find appropriate distributors in markets where we are currently not present," he added. In the last 16 mont