UP CM Adityanath lays foundation stone for green CV facility of Ashok Leyland

Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday laid the foundation stone for a green mobility-focussed commercial vehicles plant of Ashok Leyland in Lucknow. The company said it plans to invest Rs 200-500 crore in the first phase while the overall investment in the plant is pegged at Rs 1,000 crore.

The 70-acre facility will manufacture electric buses while also having capability to produce other vehicles powered by existing and other emerging alternate fuels, the company said in a statement.

The facility will be the company's seventh plant in the country. Once operational, the plant will initially have a capacity of producing 2,500 vehicles per year.

Ashok Leyland said it plans to expand this capacity to 5,000 vehicles annually over the next decade, anticipating the growing demand for electric and other types of vehicles in the coming years.

"Once operational, the facility will have a positive impact on our common goals of generating employment opportunities and advancing sustainable mobility in India. We remain committed to driving innovation and setting new benchmarks in the field of green mobility," said Dheeraj Hinduja, Executive Chairman, Ashok Leyland.

With this new plant, the company is preparing itself for the future and take one step further to achieve its net-zero emissions goals, he added.

"This facility will not only address the rising demand for electric vehicles but also play a vital role in the holistic development of the region," said Shenu Agarwal, MD and CEO at Ashok Leyland.

He said the company's focus on electric trucks and buses resonates with the evolving landscape of sustainable transportation and pushes Ashok Leyland one step further to build a green mobility future.

On the occasion, Chief Minister Adityanath said,"I extend my congratulations to Hinduja Group and Ashok Leyland for spearheading this initiative. In UP, we have come up with investor-friendly policies. Similarly, investors will also have to make their investments public-friendly.” He highlighted the state government's electric vehicle policy, and the launch of investment projects worth over Rs 10.24 lakh crore by the Prime Minister.

Stating that Uttar Pradesh's EV policy is one of the best in the country, he mentioned about incentives of up to Rs 20 lakh for every electric bus, emphasising its unique appeal to both investors and buyers.