Chennai, June 2 (ANI): Chennai-based Ashok Leyland, India's leading commercial vehicle maker owned by the house of Hindujas has entering into a collaboration with Japan auto major Nissan Motor Company to roll out three light commercial vehicles (LCVs) by mid-2011.
The top officials of the companies announced about this joint venture here on Tuesday.he joint venture company, Ashok Leyland Nissan Vehicles Ltd., is a 51:49 partnership between Ashok Leyland and Nissan Motor.
"We will launch the first wave of the three new products in 2011. That is when the joint venture will roll out new vehicles for India and for selective export markets," said Andy Palmer, Senior Vice-President, Nissan Motor Company and Chairman, Ashok Leyland Nissan Vehicles Limited.
He also mentioned that the company plans to bring out three models of vehicles in the next three years.
The company will make two models at Ashok Leyland's plant at Hosur town and one model at Nissan Motor's facility at Oragadam, both located in Tamil Nadu.
"The joint venture happened because both parent companies witnessed the explosive growth of the light commercial vehicle (LCV) business in India and both felt that it is an important segment to be present in," said V Sumantran, Executive Vice-Chairman, Hinduja Automotive Ltd and Chairman, Nissan Ashok Leyland Powertrain Ltd.
He further said that the joint venture was a logical outcome for both companies as Ashok Leyland is well versed with the Indian market and the cost-effective need of the consumer whole Nissan is the powerhouse of technology.
Nissan would hold 51 percent stakes in Nissan Ashok Leyland Powertrain Limited.he flagship offering from this joint venture will feature trucks and buses in the 5 to 7.5 tonnes GVW (gross vehicle weight) range.
These vehicles will be powered by an efficient, proven 3-litre, 4-cylinder Common Rail Diesel engine, which would be BS (Bharat Stage) III and BS IV compliant.
Ashok Leyland Nissan is expected to touch a total output of 150,000 units by the year 2013. (ANI)