Ashok Leyland, a commercial vehicle major from the Hinduja Group, has signed a Memorandum of Understanding (MoU) with the Uttar Pradesh government to invest in a greenfield manufacturing plant for electric buses. The initial investment for the plant is around Rs 200 crore, with a capacity of producing 2500 buses per year, which will later be expanded to 5000 buses per year.
Ashok Leyland, commercial vehicle major from Hinduja Group, signs MoU with UP Govt to invest in a greenfield manufacturing plant for Electric Buses
🔸Initial investment ~ Rs 200 Cr
🔸Capacity ~ 2500 buses per year, will be expanded to 5000 buses per year later. pic.twitter.com/AjOsbaQGOZ— The Uttar Pradesh Index (@theupindex) September 15, 2023
Ashok Leyland, a commercial vehicle major from the Hinduja Group, has signed a Memorandum of Understanding (MoU) with the Uttar Pradesh Government to invest in a greenfield manufacturing plant for Electric Buses. The announcement was made via a tweet from The Uttar Pradesh Index on September 15, 2023.
The initial investment for the project is estimated to be around Rs 200 crore. The manufacturing plant will have a capacity to produce 2500 electric buses per year, which will later be expanded to 5000 buses per year.
This collaboration between Ashok Leyland and the UP Government is a significant step towards promoting sustainable transportation and reducing pollution in the state. Electric buses are known for their eco-friendly nature, as they produce zero tailpipe emissions and contribute to a cleaner environment.
The investment in the manufacturing plant will not only boost the economy of Uttar Pradesh but also create job opportunities for the local population. The project is expected to attract skilled workers and provide them with employment in the manufacturing sector.
Ashok Leyland’s expertise in the commercial vehicle industry coupled with the government’s support will ensure the successful establishment and operation of the greenfield manufacturing plant. This initiative aligns with the Indian government’s push towards electric mobility and reducing dependence on fossil fuels.
The manufacturing plant is expected to contribute significantly to the production of electric buses in the country and support the government’s vision of electrifying public transport. It will also pave the way for other companies to invest in similar projects, further driving the growth of the electric vehicle industry in India..
Ashok Leyland, commercial vehicle major from Hinduja Group, signs MoU with UP Govt to invest in a greenfield manufacturing plant for Electric Buses
Initial investment ~ Rs 200 Cr
Capacity ~ 2500 buses per year, will be expanded to 5000 buses per year later. pic.twitter.com/AjOsbaQGOZ— The Uttar Pradesh Index (@theupindex) September 15, 2023
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