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Ashok Leyland's EV push: CM Adityanath lays foundation for Lucknow plant

26 Mar 2024 , 03:16 PM

Yogi Adityanath, the chief minister of Uttar Pradesh, laid the cornerstone for Ashok Leyland's commercial vehicle plant in Lucknow, which is focused on green mobility, on Tuesday.

The business stated that while the total estimated investment in the facility is ₹1,000 Crore, it intends to invest between ₹200 and ₹500 Crore in the first phase.

According to a statement from the firm, the 70-acre plant would create electric buses in addition to other vehicles that can be powered by current and new alternative fuels. This plant will be the company's sixth across the nation.

When the plant is up and running, it will be able to produce 2,500 cars annually.

In anticipation of the rising demand for electric and other types of vehicles in the upcoming years, Ashok Leyland claimed that it intends to increase this capacity to 5,000 vehicles annually over the next ten years.

'Once it is up and running, the facility will contribute positively to our shared objectives of creating jobs and developing sustainable mobility in India. In the area of green mobility, we're still dedicated to pushing innovation and creating new standards,' stated Ashok Leyland Executive Chairman Dheeraj Hinduja. 

He continued, 'The company is taking a step toward achieving its net-zero emissions goals by preparing itself for the future with this new plant.'

Shenu Agarwal, MD and CEO of Ashok Leyland, stated, 'This facility will not only address rising demand for electric vehicles but also play a vital role in holistic development of region.'

He claimed that Ashok Leyland is being pushed even more toward creating a future of green mobility by the company's emphasis on electric trucks and buses, which aligns with the changing landscape of sustainable transportation.

Chief Minister Adityanath congratulated Ashok Leyland and the Hinduja Group for leading this initiative on the occasion. We have developed investor-friendly policies at UP. Investors will similarly need to make their investments accessible to the general public.' He emphasized the introduction of investment projects by the Prime Minister valued at more than ₹10.24 Lakh Crore, as well as the state government's policy on electric vehicles.

For feedback and suggestions, write to us at editorial@iifl.com

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