Commercial vehicles manufacturer Ashok Leyland Ltd. (ALL), the flagship of the Hinduja Group, would start bidding for electric bus tenders soon, according to a top company official.
“Three-four State transport undertakings (STUs) are expected to come out with their tenders for electric buses,” said Gopal Mahadevan, chief financial officer, ALL. “Besides, some private bus operators are also expected to come out with their tenders for battery powered buses. We will be participating in those bids.” ALL would be showcasing a electric bus prototype at the Auto Expo 2018 to be held in New Delhi from February 7.Queried about tender value, he said it may not be big as the technology was new. The STUs would be coming out with tenders for 50-100 buses in a phased manner. Mr. Mahadevan said the firm decided to invest about ₹100 crore in electric vehicle (EV) technology over three years. It would also focus on three areas related to EVs — battery swap, long range battery for EVs and fast-charging battery for long-range buses.
The firm has tied-up with SUN Mobility to develop electric buses with ‘swap and charge’ battery technology.
Mentioning they were currently working on Bharat Stage VI engine, modularity in manufacturing and light commercial vehicles with left hand drive for export markets, he said: “The idea is to provide customers with the kind of aggregates such as cabin and others as per their specific needs. There are certain fleet operators who carry only a specific cargo — limestone and cement. It will be better to offer such players the kind of vehicle they need.”
Rise in profit
ALL’s standalone net profit for the third quarter ended December rose 178% to ₹450 crore against ₹162 crore in the year-earlier period on improved product mix, increasing demand and hike in prices.
Revenue rose 58% to ₹7,113 crore (₹4,516 crore) (excluding excise duty). Export volumes rose 46% to 4,289 units during the period under review. Sale of medium and heavy commercial vehicles (M&HCV) in domestic market rose 41% and light commercial vehicles (LCV) 45% to 10,926 units (7,554 units).
