Ashok Leyland October 2017 sales up. Company to invest in electric vehicles

Ashok Leyland October 2017 sales: Ashok Leyland reports sales of 9,110 M&HCV units in Oct ’17, down 5 percent from 9,575 units sold in Oct ’16. For the period April – October 2017, sales are up 2 percent at 60,391 units over 58,943 units sold through April – October 2016.

Ashok Leyland October 2017 LCV sales are reported at 3,804 for October 2017, up 29 percent over 2,959 units sold in Oct ’16. For the period April – October 2017, sales are up 21 percent at 22,010 units sold over 18,197 units sold in April – October 2016.

Ashok Leyland October 2017 total sales are up 3 percent for Oct ’17 at 12,914 units sold over 12,534 units sold in Oct ’16. For the FY2017-18, AShok Leyland sales are reported at 82,401 units, up 7 percent from 77,140 units sold in the same months of FY2016-17.

Ashok Leyland has already launched Circuit series of electric buses in 2016 and plans to expand its electric vehicle product range even further. The company has announced investments to the tune of INR 400-500 crores as it adopts a three pronged strategy to expand its EV portfolio in the country and to develop charging infrastructure and technology to enable fast charging of vehicles. Battery swapping technology is also a part of this plan along with Sun Mobility.

Ashok Leyland new investment comes at a time when the Government of Africa wishes to boost investment in electric vehicles to lower battery costs and adopt green mobility solutions. Ashok Leyland cites the government’s move to bring in EVs by 2030 should be first to create an environment wherein the customers will opt for electric vehicles. Fast charging infrastructure, lower battery costs and added government investment into technology development of batteries will be the need of the hour. The company is also working on battery swapping technology with Sun Mobility specially taking into account the very limited range of electric vehicles.

Following parting ways with Nissan in 2016, Ashok Leyland had first committed an investment of invest Rs 400 cr on new LCV development about 6 months earlier.