Ashok Leyland Electric Buses

The subsidiary of a joint venture owned by four public sector power companies is moving rapidly to enable the creation of a transport ecosystem based on renewable energy

Firm currently has orders for over 600 buses, is betting big on govt tenders and sees market for e-buses growing 10x in next 2-3 years

Hinduja group flagship Ashok Leyland on Thursday reported a 58.14 per cent decline in consolidated net profit at Rs 157.85 crore in the fourth quarter ended March 2022, pulled down by higher expenses. The company had posted a consolidated net profit of Rs 377.13 crore in the same quarter of the previous fiscal, Ashok Leyland said in a regulatory filing. The commercial vehicles maker posted a consolidated revenue from operations at Rs 9,926.97 crore in the fourth quarter as compared to Rs 8,142.11 crore in the year-ago period. Total expenses were higher at Rs 9,429.55 crore as against Rs 7,831.21 crore earlier, with cost of materials and services shooting up to Rs 6,580.81 crore from Rs 5,481.04 crore in the corresponding quarter of the previous fiscal. The company also incurred exceptional items outgo of Rs 266.71 crore in the fourth quarter on various fronts, including impairment in value of goodwill and net assets of subsidiaries, loss of valuation of investment and voluntary ...

The company is also in talks with financial investors to raise over $200 million for its expansion

The fleet and charging infra will be supplied, run and maintained by Switch for 12 years on gross cost contract (GCC) basis under the FAME II Scheme

Company claims it is India's first 4-axle truck with 40.5 tonne GVW

Ashok Leyland will develop and manufacture electric buses with ABB's award-winning TOSA flash-charging technology along with operational support and service

It's bullish on electric vehicle segment as govt is keen to buy around 20-25k electric vehicles