Ashok Leyland, a flagship company of the Hinduja group, has signed a Memorandum of Understanding (MoU) with the state government of Uttar Pradesh to establish a bus manufacturing facility near Lucknow.
The company will invest INR 1,000 Crore in this endeavor, with an initial production capacity of 2,500 buses per year and intentions to expand it to 5,000 vehicles annually over the next decade. The commercial vehicle bus plant will focus on green mobility.
Also Read: NWR Redevelopment of Railway Station, Jaipur, Rajasthan
Shenu Agarwal, Ashok Leyland MD & CEO, stated that the company plans to invest up to INR 1,000 Crore in the new facility in the coming years, contingent on the market’s adoption and demand for alternative fuel vehicles in the state. He also mentioned that the company’s mission to achieve net zero by 2048 is one of the reasons for setting up the plant in Uttar Pradesh.
Once operational, this will be the seventh vehicle plant of Ashok Leyland in the country.
Biltrax Construction Data is tracking 26,000+ projects on their technology platform for their clients.
Get exclusive access to upcoming projects in India with actionable insights and gain a competitive advantage for your products in the Indian Construction Market.
Visit www.biltrax.com or email us at contact@biltrax.com to become a subscriber and generate leads.
Disclaimer: The information contained herein has been compiled or arrived at, based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. The image featured in this article is for representation purposes only and does not in any way represent the project. If you wish the article to be removed or edited, please email editor@biltrax.com.
0
