Truck Manufacturer Ashok Leyland To Launch Electric Vehicle JV

Truck Manufacturer Ashok Leyland To Launch Electric Vehicle JV

SUMMARY

It will include partnerships with MNCs such as Michelin, Marubeni and SBICap Ventures

The aim is to build an EV ecosystem in the country

Central government’s FAME II scheme has proposed to invest INR 10,000 Cr towards EV push in India

Indian truck manufacturer Ashok Leyland is reportedly in talks with a clutch of multinationals to start a joint venture in the electric mobility space. Leyland’s list of potential partners includes Michelin, Marubeni, and SBICap Ventures, according to a media report which cited the company’s head of EV and e-mobility, Karthick Atmanathan. 

Talking about the vision behind the JV, Atmanathan reportedly said, “The purpose is to initiate an ecosystem. The JV will work with the entire supply chain — for example, with vehicle manufacturers to procure buses, with maintenance companies for giving out maintenance contracts, etc.”

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