Leyland to set up new R&D facility near Chennai

Ashok Leyland plans to set up a world class research and development (R&D) facility in Vellivalchavadi near Chennai.

Sources close to the development said that this is in part of the company's plan to become an international commercial vehicle manufacturer.

The new R&D facility is expected to be located near the existing R&D facility in Vellivalchavadi. The existing R&D facility is a centralised one set-up two years ago. However, Ashok Leyland officials declined to divulge any details about the size of investment

In fact at the beginning of the current financial year the company had ramped up the R&D expenditure by 53 per cent to Rs 75 crore from Rs 48.83 crore in 2003-04.

The flagship of the Hinduja group had successfully managed to raise $100 million through its foreign currency convertible bonds (FCCBs) during April 2004.