Hinduja Group company Ashok Leyland today said it would invest Rs 3,000 crore in the next three years on various projects, including its light commercial vehicle joint venture (JV) with Japanese auto maker Nissan.
“We had cut back our investment due to market conditions. Now, we are activating the investment again as the market has come back,” Ashok Leyland Managing Director R Seshasayee said, a day before inaugurating the company’s Pantnagar integrated trucks unit.
He said the investments would include the company’s share in the LCV JV with Nissan, the construction equipment business (JV with John Deere) and overseas operations (bus facility at Ras-Al-Khaimah).
After the economic slowdown hit the auto market, Ashok Leyland had cut back on the capex announced last year to Rs 2,000 crore from Rs 3,200 crore, for three consecutive years.
