Ashok Leyland, the flagship company of the Hinduja Group, has announced its plans to invest Rs 1,000 crore in Uttar Pradesh to establish a bus manufacturing facility focused on clean mobility. The company has signed a Memorandum of Understanding (MoU) with the Uttar Pradesh government to set up the plant near Lucknow. This will be Ashok Leyland’s first manufacturing plant in the state.
The primary goal of this plant is to support the company’s mission to achieve net zero emissions by 2048. The facility will be an integrated commercial vehicle bus plant that will primarily focus on green mobility. Initially, it will have the capacity to produce 2,500 buses per year, and over the next decade, the capacity will be expanded to accommodate up to 5,000 buses annually.
The decision to invest in Uttar Pradesh is driven by the market demand and adoption of alternative fuel vehicles in the state. Ashok Leyland aims to contribute to the growing demand for electric and other types of buses in the coming years. This manufacturing facility will be the seventh vehicle plant of Ashok Leyland in India.
Dheeraj Hinduja, Chairman of Ashok Leyland, expressed his commitment towards shaping the future of the commercial vehicle industry through this investment. Ashok Leyland is the second largest commercial vehicle maker in the country, after Tata Motors.
As of now, Ashok Leyland shares are trading at Rs 182.90 apiece on the Bombay Stock Exchange.
– The Hindu BusinessLine