LCV & HCV
Ashok Leyland expects 20% revenue from exports in next 5 years: Dheeraj Hinduja
Ashok Leyland, the commercial vehicle manufacturer owned by the Hinduja Group, is setting its sights on a significant increase in its export revenue over the next five years. As per Dheeraj Hinduja, the company's Executive Chairman, the goal is to have more than one-fifth of the company's revenue coming from exports.
Sonalika plans Rs 1,000 cr outlay to push exports
Gaurav Saxena, director and chief executive officer (international business), International Tractors Limited said, “We are looking at investing $100 million to set up a dedicated facility for exports. The new unit will have total installed capacity of 100,000 units and will be commissioned within the next two years.”
Ashok Leyland bags order for 1,666 buses from Tamil Nadu STU
This is the single-largest order received from the state transport undertakings and will further contribute to strengthening Ashok Leyland's position in the bus industry, the Chennai-based Hinduja group flagship said in a regulatory filing.
Mahindra Last Mile Mobility receives the first tranche of Rs 300 crore from IFCI
Mahindra and Mahindra has received the first installment of ₹300 crore from the International Finance Corporation (IFC) for its electric vehicle division. The IFC had committed to investing ₹600 crore in the division, which is the first investment in an EV maker in India by the IFC.
Ashok Leyland bags order for 1,282 buses from Gujarat state road transport corp
Ashok Leyland has secured an order from the Gujarat State Road Transport Corporation (GSRTC) for 1,282 fully built buses. This is one of the largest orders from a state transport undertaking for a single original equipment manufacturer (OEM) and will strengthen Ashok Leyland's position in the Indian bus market.
Tata Motors to hike commercial vehicle prices for third time in 2023
The price increase is to offset the residual impact of the past input costs and will be applicable across the entire range of commercial vehicles, Tata Motors said in a statement.
Rising ownership costs to hurt India's commercial vehicle volume growth: Fitch
The ratings agency said increasing regulatory requirements, elevated inflation and high interest rates have pushed up the ownership costs, thereby weighing on purchase decisions.
Ashok Leyland to invest Rs 1000 crore in a greenfield plant in UP for making e-buses
Ashok Leyland, the Hinduja Group's flagship company, has signed an agreement with the Uttar Pradesh Government to set up a greenfield plant for manufacturing electric buses. The company will invest Rs1000 crore into the facility, which will have the capacity to produce 2500 buses per year initially and can be scaled up to 5000 vehicles per year in the next decade. The government of Uttar Pradesh has committed to facilitating the sale of electric buses for its own fleet and other stakeholders for the next five years through Ashok Leyland's subsidiary, Switch Mobility.
Vision is to be among top 10 global CV players: Ashok Leyland
Ashok Leyland, the Hinduja group's flagship company, aims to be among the top 10 global commercial vehicle manufacturers in the near future. The company is focusing on exploring new markets and expanding its sales volume in India. Ashok Leyland has developed modular products like the 'Avtar' to serve international markets.
Swaraj Tractors invests Rs 200 cr to roll out new models
Swaraj Tractors, a subsidiary of Mahindra Group, has invested Rs 200 crore in developing a new range of tractors in the 40-50 HP category to meet the changing needs of farmers. The new tractors, which come with a variety of features and applications, will eventually replace the company's existing models in the same category.
Ashok Leyland expands product offering in CNG, launches truck in 18.5 tonne segment
President-MHCV, Ashok Leyland, Sanjeev Kumar said, "in an endeavour to expand our product offerings in the CNG segment to strengthen the portfolio, and meet the ever-growing demands of the customers, we have introduced 1922 4X2 truck in the 18.5T segment...this new range will further strengthen our portfolio, helping us improve our market share in the fast-growing CNG space."
Mahindra unveils new range of small tractors; eyes doubling tractor exports in 3 years
The company said it has invested Rs 1,200 crore on developing the OJA platform which consists of four platforms that could churn out 40 different trims in the 20-70 HP power output. The company aims to cater to the needs of farmers with small land parcels, especially in India, US and ASEAN region with the new range. Mahindra & Mahindra President - Farm Equipment Sector Hemant Sikka said the OJA brand would help in enhancing the company's share in the market while helping it enter new markets.
Mahindra & Mahindra rolls out new wheel harvester under Swaraj brand
Mahindra & Mahindra (M&M) has introduced a new wheel harvester manufactured at the company's new facility at Pithampur in Madhya Pradesh, India. The Swaraj 8200 Wheel Harvester comes equipped with a TREM-IV compliant engine and advanced features, providing live information for better decision-making, including live location tracking, fuel consumption, acres harvested, and road kilometers travelled.
VECV secures order to supply 550 intercity buses worth Rs 500 crore
The order of 550 buses is an indication of the company's robust expansion plans going forward to become a pan-India operator, Vijayanand Travels said in the statement. "Vijayanand Travels has placed the largest order in India for 550 intercity buses from Volvo and Eicher. The approximate worth of the order is Rs 500 crore, which includes 500 units of Eicher Intercity 13.5m AC and non-AC sleeper coaches and 50 Volvo 9600 luxury sleeper coaches," it said.
AMW Motors admitted for insolvency as Triton fails to implement revival plan
“Triton Electric Vehicle has failed to fund and implement the resolution plan and has thus contravened the resolution plan,” the division bench of judicial member Shammi Khan and technical member Ajai Das Mehrotra observed in its order of July 27. “We are of the view that the present (liquidation) application deserves to be allowed.”
Ashok Leyland embarks on cross-country expedition marking 75th anniversary
As many as 10 vehicles would be traversing across cities including Bengaluru, Mumbai, Leh, Kolkata, Dibrugarh, on five different routes commemorating the occasion.
