Ashok Leyland to set up electric bus manufacturing plant in UP, All you must know

Ashok Leyland: Ashok Leyland, a commercial vehicle manufacturer, will establish an electric bus manufacturing plant in Uttar Pradesh. On Friday, a Memorandum of Understanding (MoU) was signed between Ashok Leyland and the Uttar Pradesh government at a ceremony attended by Chief Minister Yogi Adityanath. Read on to learn more.

Ashok Leyland in UP

According to the announcement, the commercial vehicle manufacturer will first invest 200 crore to establish the facility, which will then be increased to 1,000 crore over the next five years. According to the agreement, the company will establish an integrated commercial vehicle bus plant focused on green mobility near Lucknow.

Ashok Leyland MD & CEO Shenu Agarwal said, "Contingent on market adoption and demand of alternative fuel vehicles in the state, Ashok Leyland intends to invest up to ₹1,000 crore in this new facility over the next few years."

What did CM Yogi say?

CM Yogi Adityanath stated that Ashok Leyland's decision is in line with Prime Minister Narendra Modi's vision, in which the government is resolved to lessen reliance on traditional fuel alternatives. In keeping with the Net Zero aim, the government of Uttar Pradesh is eager to attract private-sector investment.

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