Ashok Leyland to invest Rs 500 crore annually for new launches, plants

Heavy vehicles maker Ashok Leyland has revealed that it will invest Rs 500 crore every year for new launches and new plants.

Speaking to reporters in Chennai, Vinod Dasari, Managing Director, Ashok Leyland, said, “We will enter every market which has a monthly market of 200 vehicles.”

Ashok Leyland will inaugurate new assembly facilities in Kenya and Ivory Coast to begin with while doubling capacity at the Ras Al Khaimah plant, all of which will happen this financial year.

“We won 12 out of the 13 bids that we competed for in defence. We recently bagged the contract to supply 4X4 mine-protected vehicles to the Army. We are looking to increase revenues from defence business to 5,000 crore from the current Rs 500 crore”, he said.

Image Credit : static-news.moneycontrol.com

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