Ashok Leyland has committed an investment of INR 1,200 crore in Tamil Nadu. This will happen over the next three to five years. The investment will be assigned for strategic initiatives to drive innovation, technological advancements and overall business expansion.
Shenu Agarwal, MD and CEO, Ashok Leyland, exchanged an MoU between the Hinduja Group and the Government of Tamil Nadu, at the ongoing Global Investors' Meet (GIM).
'This commitment also reflects the group’s vision for sustainable growth and competitiveness in the automotive sector,' said a release from the company. The group is committed to creating employment opportunities for 500-1,000 people both direct and indirect, based on the work demand.
Sales At New Peak In 2023
Ashok Leyland has clocked its highest-ever sales volume in calendar year 2023. It reported a total commercial vehicle (CV) volume of 198,113 units, besting its previous record established in 2018.Agarwal said, “Looking ahead, we are poised for even greater success as we continue to invest in cutting-edge technologies, sustainable operating practices and customer-centric market initiatives to drive the next phase of growth for Ashok Leyland. The momentum generated in 2023 sets a solid foundation for a future where we will continue to lead the way in the commercial vehicle industry.'
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