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This story is from June 15, 2006
Leyland eyes alliance for LCV venture
Ashok Leyland is in talks with an international major to jointly set up a light commercial vehicle plant in India.
TOKYO: India's second largest truck maker Ashok Leyland is in talks with an international major to jointly set up a light commercial vehicle plant in India.
"We are in talks with a leading auto major for LCVs. This could be an equity partnership (a joint venture) or just a technical tie-up," Ashok Leyland MD R Seshasayee said.
The company, where Hindujas hold 51% stake, already has a tie-up with Italian major Iveco, the commercial vehicles entity of Fiat.
The LCV tie-up would be for establishing a sixth plant in India. Seshasayee said the new plant would come up by the time the combined production at the five plants breaches the 100,000 units capacity, which is expected in 2008. An announcement on the new facility is expected in August.
LCV business is a high volume, low margins business which requires significant investments in R&D and the tie-up is expected to help Leyland develop new vehicles with advanced technologies.
"We are in talks with a leading auto major for LCVs. This could be an equity partnership (a joint venture) or just a technical tie-up," Ashok Leyland MD R Seshasayee said.
The company, where Hindujas hold 51% stake, already has a tie-up with Italian major Iveco, the commercial vehicles entity of Fiat.
Though the market has been abuzz with talk that Iveco is expected to sell its stake to Swedish truck major Volvo AB, Ashok Leyland had denied the same.
The LCV tie-up would be for establishing a sixth plant in India. Seshasayee said the new plant would come up by the time the combined production at the five plants breaches the 100,000 units capacity, which is expected in 2008. An announcement on the new facility is expected in August.
LCV business is a high volume, low margins business which requires significant investments in R&D and the tie-up is expected to help Leyland develop new vehicles with advanced technologies.
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