Ashok Leyland mulls separate plant for EVs, Rs 500 cr investment for alternative fuel tech – EQ Mag Pro
The Chennai-based firm has also lined up a Rs 500 crore investment to develop powertrains based on alternative fuels like CNG, hydrogen and electric for its commercial vehicles range.
Bullish on the future of green mobility, the Hinduja Group flagship Ashok Leyland plans to set up a new manufacturing facility in the country to roll out electric vehicles, according to a top company official.
The Chennai-based firm has also lined up a Rs 500 crore investment to develop powertrains based on alternative fuels like CNG, hydrogen and electric for its commercial vehicles range.
The company has already announced a USD 200 million (nearly Rs 1,500 crore) investment through its UK-based arm Switch Mobility for electric mobility.
The commercial vehicle company aims to expand its electric vehicle portfolio as well as develop new engines keeping in mind the changing market requirements in the domestic as well as international markets.
“In Spain, we are coming up with a manufacturing facility and R&D centre and there are plans to grow this over the next few years. In India, we will be optimising the facilities that are available with Ashok Leyland.
“But I’m sure very soon we will require an independent facility as well. And that is something that is being looked at by the management team,” Ashok Leyland Executive Chairman Dheeraj Hinduja told.
Source : PTI
