Chennai, April 04: Commercial vehicles major Ashok Leyland, the flagship company of the Hinduja Group, is open to acquisitions and partnerships to be among the top ten truck-makers in the world, a top company official said here Monday.
“The vision is to become one of the top ten truck companies and in the bus segment one of the top five companies in the world over the next five-ten years. This may be through acquisitions or joint ventures,” managing director Vinod Dasari said.
Dasari assumed office April 1.
Increasing exports is one way to become a global name and the company plans to hike its exports to account for 20-25 percent of its total sales over the next five years, he added.
Ashok Leyland plans to look at newer markets in Africa, Latin America, Middle East and others.
The company exports around 10,000 units now out of the total sales of 94,000 units.
Dasari said plans are on to add new vehicle models to its product portfolio by bringing in Avia trucks and Optare buses in India this year.
Ashok Leyland acquired the Czech company Avia in 2006 and the UK-based Optare recently.
According to Dasari, cabin for Avia trucks will be from that company while the engine, gear-box and other components will be made here.
The Czech company has a truck range of 6-12 tonnes and depending upon the gross combination weight with a drawer trailer it can go up to 22 tonnes.
The products of Avia can be classified as intermediate commercial vehicles (ICVs), which are typically between 7.5 tonnes and 12 tonnes.
“We are planning to introduce 6-12 tonne range for the Indian market,” said Dasari.
Ashok Leyland is also looking at newer areas for its engines.
Dasari said a mechanised boat fitted with Ashok Leyland engine will be out soon.
The company has lined up investments to the tune of Rs.800 crore for the current year.
—IAns