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For Its First Plant, Ashok Leyland Would Invest Rs 1,000 Crore In Uttar Pradesh
The factory’s initial production capacity will be 2,500 buses annually when it begins operations, the firm claimed.
Ashok Leyland, the flagship company of the Hinduja Group, said on Friday that it will spend Rs 1,000 crore in Uttar Pradesh to build a bus manufacturing plant with a clean mobility emphasis. The firm and the Uttar Pradesh government have signed a Memorandum of Understanding (MoU) to build the facility, which would be the company’s first in the state, according to a statement from the commercial vehicle manufacturer.
According to the MoU, the corporation will establish a fully integrated commercial vehicle bus facility close to Lucknow that focuses on green transportation.
According to Ashok Leyland MD & CEO Shenu Agarwal, the company plans to spend up to Rs 1,000 crore in this new plant over the next years, depending on market acceptance and demand for alternative fuel cars in the state.
