The corporate has finalised an settlement with Registered Automobile Scrapping Facility (RVSF). “This locations AL in a strategic place on our highway to circularity and decreasing our environmental footprint,” mentioned the corporate’s annual report for FY24.
The Hinduja flagship can be growing a digital platform named Re.AL for the used automobile enterprise. This platform will assist clients resell their automobiles in compliance with the government-mandated automobile scrappage coverage.
Ashok Leyland, a number one truck and bus producer, anticipates that the business automobile trade’s development might be pushed by alternative demand, necessary scrapping of older authorities automobiles and regular macro-economic development.
Different applied sciences
Dheeraj Hinduja, Chairman of Ashok Leyland, talked about within the annual report that the corporate is making ready to supply a spread of merchandise powered by different gas applied sciences, together with battery-powered automobiles, with a number of such merchandise at the moment present process trials.
It’s specializing in different applied sciences reminiscent of battery electrical, hydrogen ICE, gas cell, LNG, and CNG. “The corporate is totally geared to supply clear power choices past electrical propulsion as effectively. The CNG and LNG vehicles and buses are already operational, initiatives in methanol as a brand new power gas is effectively underway and the prototype inexperienced hydrogen vehicles have been deployed in precise working situations. In brief, Ashok Leyland is future-ready to supply a full suite of fresh power automobiles.
Ashok Leyland can be establishing a big presence within the inexperienced mobility house by means of its subsidiary Swap Mobility, which focuses on growing and producing electrical buses and electrical gentle business automobiles.
At the moment, over 950 buses are deployed globally, with the order pipeline frequently rising. Gross sales within the European market are deliberate to start later this yr. Just lately, the corporate launched its Boss electrical truck and is within the superior phases of launching a totally electrical 55-tonne tractor-trailer.
“The EV sector is anticipated to be buoyant any more enabled by supportive governmental measures,” he mentioned.
With a number of new merchandise throughout numerous gas segments within the pipeline, the corporate’s R&D spend as a share of turnover elevated to 1.30 per cent in FY24, up from 1.19 per cent in FY23.
In FY24, Ashok Leyland invested ₹1,525 crore in its mobility arms. After buying a 100 per cent stake in OHM International Mobility Pvt Ltd (OHM India) from OHM Worldwide Mobility Ltd, UK, for a nominal consideration of ₹1 lakh, it additional invested about ₹300 crore in OHM. The corporate additionally invested ₹1,200 crore in Optare Plc., UK, growing its stake to 92.59 per cent.
Ashok Leyland and TVS Mobility Pvt Ltd fashioned a three way partnership—TVS Vehicles and Buses Non-public Ltd (TVS Vehicles)—with the Hinduja flagship investing about ₹25 crore, contributing 49.90 per cent of the paid-up share capital of TVS Vehicles.
Whereas advancing new power applied sciences, the corporate can be increasing its vary within the conventional ICE section to fill market gaps. It plans to launch at the least half a dozen new merchandise within the gentle business automobile house this fiscal. “In FY24, greater than 30 per cent of gross sales got here from newly launched merchandise,” mentioned Hinduja.
The corporate’s share closed at ₹234.25 per share, down 1.91 per cent, on BSE on Tuesday.
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