Ashok Leyland has delivered an LNG powered haulage truck –AVTR 1922 – to Mahanagar Gas Limited in Hosur (Tamil Nadu) marking yet another significant development in sustainable mobility in India. 

The LNG powertrain of the truck was developed in-house and is BS VI Stage II compliant. The truck, the AVTR 1922 is based on the modular AVTR platform and shares a high degree of commonality with Ashok Leyland's existing diesel truck range.  The result of this is an amount of familiarity in terms of ease of service.   

Stating that Ashok Leyland’s steadfast commitment revolves around the dynamic needs of customers in the ever-evolving world of sustainable transportation, Sanjeev Kumar, President – MHCV, Ashok Leyland, mentioned that innovations in alternate energy space will not only provide eco-conscious solutions, it will also ensure long term profitability for our esteemed customers. 

Of the opinion that a local supply chain must gear up for progress in the field of alternative fuels, Dheeraj Hinduja, Executive Chairman, Ashok Leyland, referred to the strong performance of the company in the second quarter of FY2023-24.

Emphasising that the robust all-round performance of Ashok Leyland during the respective quarter exemplifies its technological and cost leadership, he expressed, “While International business globally is challenged owing to the conflicts across the globe, we are intensifying our expansion strategy in our focus markets of Middle East, Africa and Asia. The Company continues to build its capabilities in alternative energy and shall be soon coming up with some exciting products and solutions.”

Confident that the rest of the two quarters of the FY2023-24 will bring further growth on the back of strong macroeconomic factors, Hinduja informed that their MHCV, ICV and bus segments have recorded good performance. 

For Q2 FY2023-24, Ashok Leyland has reported revenues of INR 96.38 billion vis-a-vis INR 82.66 billion in Q2 FY2022-23, marking a growth of 17 percent. Profit After Tax (PAT) of INR 5.61 billion for the quarter grew 181 percent over same period last year.

The CV maker’s domestic MHCV volume at 29,947 units grew by 18 percent as compared to the Q2 FY2022-23 volume. LCV volumes during Q2 FY2023-24 were 16998 units – almost the same as Q2 FY2022-23 (17,040 numbers). Export volumes for the quarter (MHCV & LCV) were 2901 units, four-per cent higher despite socio-political challenges across the globe.

Witnessing good movement in the MHCV space, Ashok Leyland saw a significant increase in its bus market share making us the Number 1 bus manufacturer in India.

EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) for Q2 FY2023-24 was INR 10.80 billion (11.2 percent) as compared to INR 5.37 billion (6.5 percent) in Q2 FY2022-23. Net Debt at the end of the quarter stood at INR 11.39 billion with a Debt Equity at 0.1 time.

All other businesses of Ashok Leyland posted good growth in the current quarter.  The company expanded its MHCV range by launching new products in tipper, tractor and MAV categories. The focus on expansion of distribution network continued with further addition of 47 touch points in the quarter – especially in the Northern and Eastern parts of the country.

The Board of Directors of Ashok Leyland in their meeting held today, have approved an investment of INR 12.00 billion in Switch Mobility as equity through its holding company Optare PLC, UK.  The funds infused will be used for capital expenditure, R&D and meeting operational requirements both in UK and India. The funds will be infused over the next few months after necessary statutory approvals in one or more tranches.

Switch Group of Companies (Switch Mobility Ltd - UK and Switch Mobility Automotive Ltd- India) house the Electric Mobility initiative of Ashok Leyland with a focus on e-buses and e-LCVs. 

Over the last few years, Switch India has had major success in garnering orders from State Transport Undertakings. As on date Switch in India and UK has over 800 buses plying successfully and has an order book of over 1200 buses. 

Switch India had a successful launch of India’s only Double Decker e-Bus last year. In September 2023, the Ashok Leyland subsidiary launched its state-of-the-art e-LCVs. The company has signed MoUs of over 13000 vehicles for its much-awaited e-LCVs which it will start delivering from the fourth quarter of the current fiscal.

“Electric Vehicles especially in buses and light trucks have a very bright future as Governments and private customers are driving the green agenda. We are very happy with the progress made by Switch, and we will continue to invest on building its capabilities. We are confident that Switch will grow further in the European markets with the launch in 2024 of our new E1 12 m bus developed specifically for the European market. Our portfolio of electric buses will cover value and premium segments meeting all price points for many global markets,” Hinduja commented. 

Ashok Leyland, the Indian flagship of the Hinduja Group and the country’s leading commercial vehicle manufacturer, has opened a new dealership for light commercial vehicles (LCVs) in Siliguri, West Bengal. With this new facility, which happens to be the fifth LCV dealership in West Bengal, the company now has a robust LCV distribution network with more than 800 touchpoints.

Located at Eastern Bypass Road, SBM Warehouse, Eastern Bypass, Bhaktinagar, Siliguri, Jalpaiguri, West Bengal, the new dealership will be managed by channel partner Happie Trucking. The main workshop facility (service and spares) is also strategically located at Debgram, Ware House, Thakur Nagar, New Jalpaiguri, Jalpaiguri, West Bengal. Equipped with advanced tools, quick service bays and sophisticated infrastructure, the facility is all set to ensure superior customer experience.

Viplav Shah, Head – LCV Business, Ashok Leyland, said, “We are excited to further strengthen our presence in this region. West Bengal and Eastern India, at large, have been a key market for us. We have always recognised the potential this region has, and we are excited about the opportunities that lie ahead in this geography. We have been working on creating a strong foothold in the region, and the new dealership in Siliguri will bolster our presence in this geography. The overwhelming success of our ‘DOST Range’ and now the ‘BADA DOST’ can be attributed to the robustness of our products and the extensive reach of our network. All our products have been receiving great responses from our customers, thanks to their best-in-class mileage and class-leading performance, backed by extensive sales and aftersales support. We are extremely proud that our track record of service retention levels is exemplary, with close to 70 percent of our customers returning to our dealer workshops even after the warranty period. We, as always, would remain committed to maintaining and even enhancing the level of customer service and satisfaction. This new dealership is being opened to further strengthen our reach, in line with our commitment.”

VE Commercial Vehicles (VECV), recently hosted Jan Thesleff, the Ambassador of Sweden to India, at its manufacturing facilities in Pithampur. He was accompanied by Markus Lundgren, Counsellor and Head of Trade section, Embassy of Sweden and Sofia Hogman, Swedish Trade Commissioner, Business Sweden.

The CV maker states that its VE Powertrain plant is a successful symbol of India-Sweden collaboration. The facility leverages India’s skilled workforce and technical expertise while positioning VECV as a hub for development and manufacturing that meets global standards. Notably, VEPT has been producing Euro 6 (BS VI) compliant engines since 2013, supplying over 40 countries.

Jan Thesleff said, “Currently, more than 280 Swedish companies operate in India, contributing to sectors ranging from automobiles and communications to healthcare and defence, directly generating over 240,000 jobs. The Eicher-Volvo joint venture exemplifies the strategic benefits of this partnership by harnessing the strengths of Sweden and India and fostering mutual growth and technological advancement. I am thoroughly impressed by the advanced technology products and sustainable manufacturing processes I witnessed today at VECV. Their remarkable achievements epitomise the shared innovation, growth, and sustainable development that Sweden-India partnership continues to deliver for the benefit of both nations.”

Vinod Aggarwal, Managing Director & CEO, VECV, said, “We are honoured to welcome His Excellency Ambassador Jan Thesleff and the team from the Swedish Embassy to our Pithampur facility. Over the past 16 years, the VECV joint venture has not only driven the modernisation of India’s commercial vehicle sector but has also enabled Volvo Group to source world-class engines and components, made in India, for its global requirements. The success of this joint venture is rooted in the principles of trust, mutual respect, and win-win collaboration, combining Volvo Group's technology leadership with Eicher’s deep understanding of the Indian market. VECV looks forward to building on this success in the future”.

At present, the company sells CNG, LNG, electric and diesel trucks and buses in India under the Eicher and Volvo brands.

Manba Finance, a leading non-banking finance company (NBFC), has signed a Memorandum of Understanding (MoU) with Piaggio Vehicles (PVPL), the wholly-owned subsidiary of the Piaggio Group, to provide tailored financing solutions to Piaggio three-wheeler customers.

As per the understanding, the partners are set to form a dedicated central coordination team to oversee the implementation. They will focus on key areas such as product structuring, interest rate optimisation, resource allocation, centralised communication, and training to ensure the efficient execution and monitoring of the tie-up.

The MoU was signed by Diego Graffi, CMD, Piaggio Vehicles and Monil Shah, CBO & Director, Manba Finance, in the presence of Amit Sagar, EVP of Sales and Retail Finance, and Nilesh Arya, Head of Retail Finance, Piaggio Vehicles.

The partners state that the collaboration comes as electric three-wheeler sales saw a record high of 65,700 units in October. With this electric three-wheelers are just 16,856 units away from surpassing the CY2023 total of 583,597 units.

“We are proud to collaborate with one of India’s leading three-wheeler manufacturers, a trusted brand among aspiring entrepreneurs across the country. This partnership strengthens our footprint in the three-wheeler segment while enabling us to provide seamless digital lending solutions to our customers," said Shah.

German automotive component supplier Mahle has bagged a new contract from MAN Truck & Bus to supply components for the hydrogen engine of its ‘MAN hTGX’ truck.

The hydrogen truck uses a direct-injection engine with 6 cylinders, 16.8-litre displacement, which produces 383 kW power. Mahle will supply the hydrogen power cell unit, consisting of piston, piston rings, piston pin and cylinder liner. It will also supply components to be used in the valve train.

Interestingly, MAN aims to build around 200 units of the hydrogen truck for selected markets from 2025.

Dr Roger Busch, member of the Mahle Management Committee and Head of Sales, said, “Mahle has successfully transferred its 100 years of expertise in engine components into the future. Our state-of-the-art pistons and other parts make the internal combustion engine fit for hydrogen and thus climate-neutral. Today, we are able to fulfil our customers’ expectations in terms of performance, efficiency and service life.”

The component supplier says it has successfully tested its engine components to meet the specific requirements of hydrogen operation.

The company claims that the Mahle hydrogen power cell unit, in particular the oil consumption of the motor and the so-called blow-by, i.e. the leakage of hydrogen gas into the crankcase, can be reduced to a minimum. This enables a robust and failure-free operation of the motor.

Mahle at present is working on around 30 hydrogen engine projects for customers in the on- and off-highway sector, with more series launches from its customers being planned in 2025.