Ashok Leyland to Invest Rs 1,000 Crore in Uttar Pradesh for Green Bus Manufacturing Plant

One of the driving factors behind setting up the facility in Uttar Pradesh was the company's aim to achieve net-zero emissions by 2048, he stated.

The initial production capacity of the factory will be 2,500 buses annually when it commences operations, the company claimed.

With the expected increase in demand for electric and other types of buses over the next several years, the company stated its intention to progressively raise this capacity to handle up to 5,000 vehicles per year over the next 10 years.

Once operational, this will be Ashok Leyland's sixth automotive facility in the country.

Dheeraj Hinduja, Chairman of Ashok Leyland, commented that the signing of this MoU "reaffirms our commitment to shaping the future of the commercial vehicle industry."

After Tata Motors, Ashok Leyland is the second-largest producer of commercial vehicles in the country.

On the Bombay Stock Exchange (BSE), Ashok Leyland shares were trading 1.7% higher at Rs 182.90 per share.