The joint venture will set up state of art facilities at Pant Nagar, Uttarakhand at an estimated investment of Rs 100 crore. It will have large pressing and welding facilities. Ashok Leyland, a commercial vehicle giant, is setting up integrated facilities at Uttarakhand.
JBM Auto will hold 74 per cent equity while Ashok Leyland will hold 26 per cent in the joint venture company proposed to be floated soon. The commercial operations will start from 2010 in line with the Ashok Leyland plan for the production of commercial vehicles.