Ashok Leyland to use Nissan-Renault’s Chennai facilityMay 15th, 2009 - 11:01 pm ICT by IANS
Chennai, May 15 (IANS) Ashok Leyland Nissan Vehicles, whose proposed plant here to make commercial vehicles has been delayed due to land acquisition problems, may use the car manufacturing facility of Nissan-Renault, being set up near here, to roll out trucks, a top official said.
Ashok Leyland Nissan is joint venture between India’s Ashok Leyland and Japan’s Nissan Motor for light commercial vehicles (LCV).
Renault-Nissan Automotive, an equal joint venture between Nissan Motor and Renault, is setting up a 400,000-unit-per-annum car plant near here.
“We are looking at the possibility of leveraging Nissan-Renault car plant as our unit has been delayed due to land allotment problems,” Ashok Leyland-Nissan managing director R. Seshasayee told reporters.
According to him, the LCV joint venture project is expected to go on stream by 2011.
Meanwhile, Ashok Leyland closed 2008-09 with 29 percent slide in sales and 60 percent fall in profits as compared to the previous year.
The company registered a turnover of Rs.5,981 crore and a net profit of Rs.189 crore last fiscal as against Rs.7,742 crore and Rs.469 crore respectively in 2007-08.
The company sold 54,431 vehicles last fiscal, down from 83,307 units the previous year.
“One disturbing trend in the segmental shift is the steeper fall in in demand for higher capacity vehicles like tractor trailers and multi-axle vehicles,” Seshasayee said.
Ashok Leyland sold 21,447 engines last year as against 11,757 units the previous fiscal.
Seshasayee said the company has decided to scale down its capital expenditure plan for 2009-12 from Rs.3,000 crore to Rs.2,000.
According to him, the new Uttarakhand unit will go on stream with an initial capacity of 50,000 vehicles by the end of this fiscal.
- Ashok Leyland-Nissan JV to roll out LCVs in 2011 - Apr 29, 2010
- Ashok Leyland-Nissan unveil 1.25-tonne goods carrier - Mar 29, 2011
- Ashok Leyland prices Dost LCV at Rs.379,000 - Sep 13, 2011
- Ashok Leyland net in 2011-12 down by 10 percent - May 14, 2012
- Ashok Leyland Nissan rolls out Dost light commercial vehicle - Jul 22, 2011
- Ashok Leyland may get into car manufacturing with Nissan - Mar 04, 2010
- Ashok Leyland to go slow on raising debt - Nov 11, 2010
- Ashok Leyland to invest Rs.2000 crore over two years - Jul 27, 2010
- Nissan to export 20 percent of mini-vans made in India - Jul 31, 2011
- Renault-Nissan in talks with Ashok Leyland for making cars - Mar 17, 2010
- Ashok Leyland Nissan to roll out LCVs in mid-2011 - Jun 01, 2010
- Nitin Seth is Ashok Leyland's executive director - Dec 14, 2010
- Ashok Leyland-Nissan joint venture to roll out light trucks by 2011 - Jun 02, 2010
- Nissan Motor to ramp up distribution - Dec 13, 2010
- Ashok Leyland's UAE joint venture plant goes on stream - Dec 16, 2010
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