Ashok Leyland to set up Rs. 1,000cr plant in UP
Ashok Leyland announced today that it will invest Rs. 1,000 crore in Uttar Pradesh (UP) to establish a state-of-the-art bus manufacturing facility with a focus on clean mobility. The commercial vehicle manufacturer has signed a Memorandum of Understanding (MoU) with the state government for this strategic venture, marking its first manufacturing plant in the state. With this investment, the plant aims to produce 2,500 electric buses annually, eventually expanding to 5,000 vehicles per year over the next decade.
Boosting green mobility in UP
Ashok Leyland's MoU with the UP government outlines plans to establish an integrated commercial vehicle bus plant near Lucknow, emphasizing green mobility. The company's Managing Director and CEO, Shenu Agarwal, stated that they are prepared to invest up to Rs. 1,000 crore in this facility over the coming years, contingent upon the market's adoption and demand for alternative fuel vehicles within the state.
A commitment to sustainable transportation
Ashok Leyland's ambitious goal to achieve net-zero emissions by 2048 serves as a driving force behind its decision to set up this manufacturing plant in UP. The company's commitment to sustainability and environmental responsibility aligns with the growing global emphasis on reducing carbon footprints and transitioning to cleaner transportation solutions.
