Ashok Leyland inks MoU with UP Govt for ₹1,500 crore investment in E-Bus manufacturing

Vinod Shah Posted on: 2023-09-18 07:25:00 Viewer: 1,888 Comments: 0 Country: India City: Lucknow

Ashok Leyland inks MoU with UP Govt for ₹1,500 crore investment in E-Bus manufacturing

Lucknow, India (Urban Transport News): Chennai-based Ashok Leyland, a prominent commercial vehicle manufacturer under the Hinduja Group, is set to establish a greenfield manufacturing plant for electric buses in Uttar Pradesh. The memorandum of understanding (MoU) signed with the UP Government marks a significant step towards the expansion of electric mobility in the region.

The ambitious project will begin with an initial investment of approximately Rs 200 crore. The manufacturing facility is projected to have a capacity of producing 2500 electric buses annually, with plans for further expansion to reach 5000 buses per year.

This endeavor represents a total investment commitment of about Rs 1500 crore, which will be executed in two phases. It signifies Ashok Leyland's strong commitment to bolstering the electric vehicle (EV) segment in India.

Originally intended for Tamil Nadu, this significant manufacturing facility relocation to Uttar Pradesh is indicative of the state's growing prominence in the EV sector. The facility is likely to be established in Lucknow, within the erstwhile 'Scooters India' campus.

This landmark project marks Ashok Leyland's first foray into establishing a manufacturing unit in North India, strengthening its presence in the region.

What is particularly noteworthy is the swiftness with which this project has progressed. From the initial proposal to the signing of the MoU, the entire process took merely 36 days, underlining the commitment of both Ashok Leyland and the UP Government to expedite the growth of the EV sector.

Ashok Leyland, a renowned player in the Indian automotive sector, holds the distinction of being the market leader in Medium and Heavy Commercial Vehicles (M&HCV) buses in the country. Globally, it stands as the fourth-largest bus manufacturer in terms of volume.

With a rich history dating back to 1948 when it was established as Ashok Motors, the company has continually evolved and grown. In 1955, it was rebranded as Ashok Leyland. The company's ethos revolves around serving the national interest, a commitment they honor through every business venture.

This significant investment in electric buses in Uttar Pradesh underscores Ashok Leyland's dedication to sustainable and eco-friendly transportation solutions, further contributing to India's electric mobility transition. As the electric vehicle market continues to expand, such initiatives play a pivotal role in propelling the nation towards a greener and more sustainable future.

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