NRI Billionaires
The Hinduja Group subsidiary saw a 41% decline in its quarterly consolidated net profits from ₹933.69 crore in Q4 of the previous fiscal to ₹550.65 crore in Q1 of this fiscal year
Net profit of Ashok Leyland grew 20% year-on-year to ₹900 crore for the quarter ended March.
Company rises 15 ranks, cashes in on increasing commercial vehicle sales, new contracts.
In December, the domestic passenger vehicle sales crossed the 4 million units mark led by robust sports utility vehicle (SUV) sales
Around 50% of long-haul trucks sold in India come without cabins.
Mahesh Babu, CEO, Switch Mobility in an interaction tells Fortune India that buses and LCVs between 2 and 3.5 tonnes will be the two important segments that will undergo electrification.
According to the company, once operational, the manufacturing facility will have a capacity to produce 2,500 buses per year.
Ashok Leyland says the Switch IeV series (lev 3 and lev 4) is enabled with a 330 V high voltage EV Architecture for the 3.5-tonne commercial vehicle category
The company attributes an uptick in demand for its flagship modular AVTR trucks as the reason behind the sharp surge in its profits.