Ashok Leyland to invest Rs400 crore in LCVs; eyes 5 fold rise in exports1 min read . Updated: 22 Jan 2018, 08:45 PM IST
Ashok Leyland has 15% market share of in LCVs which it hopes to grow between 20-30%
Kolkata: Hinduja Group flagship Ashok Leyland is aiming to increase its export basket of light commercial vehicles (LCV) to 25% from the present 5% over the next three years, a senior official said.
Nitin Seth, president, LCV, Ashok Leyland, said that the company will also be investing Rs400 crore into a new platform of LCVs that will continue to launch new product every six months. “We are targeting all the gulf countries, Russia, Ukraine and lot of West African countries which follow left hand drive. Our left hand drive vehicles will start coming from June this year. Today, only 5% of our volumes are from exports and our ambition should be at least 25 per cent in the next three years," Seth said.
He said that all the vehicles manufactured by the company presently cater to right hand drive markets and is exported to South Asian Association for Regional Cooperation (Saarc) countries, whereas 80% of the global market follows left hand driving.
“We have 15 per cent market share of the LCV market in the country. We hope to grow between 20-30 per cent as we move forward," Seth said at the launch of DOST+, a new LCV in Kolkata.