Ashok Leyland aims 40% ICV sales from CNG variant
ROADS & HIGHWAYS

Ashok Leyland aims 40% ICV sales from CNG variant

Ashok Leyland Limited has planned to expand its compressed natural gas (CNG) range to make about 40% sales in the intermediate commercial vehicle (ICV) segment from this fuel variant.

The initiative follows the truck maker losing market share in the ICV segment, which is the biggest volume generator in the commercial vehicles (CVs) after the delayed CNG launch.

The company continues to develop its electric vehicles (EVs) and E-Mobility-as-a-service (E-MaaS) portfolio under its electric mobility arm, Switch Mobility, aiming to raise $200-300 million in ongoing funding round.

Ashok Leyland announced the launch of 14 and 16 tonnes of CNG trucks and plans to expand its range to an 11 tonne truck in the next two months and multi-axle vehicles. This launch arises when the commercial vehicle market is seeing a rebound after a three-year slump.

In the ICV and light commercial vehicle segment, fleet operators favour CNG over diesel as fuel as it offers significantly low running costs. The increasing number of CNG fueling stations and a green tax on diesel CVs are also under adoption.

Currently, CNG accounts for 35-40% of the ICV segment and over 10% of the entire CV market. The recent shortage of trucks with fleet operators is spurring demand.

The company is also developing alternate fuel technologies like liquefied natural gas (LNG) as an alternative for diesel-run Medium and Heavy Commercial Vehicles (M&HCVs). It will be able to offer these technologies to the market when the ecosystem essential to their adoption matures.

Chief financial officer of Ashok Leyland, Gopal Mahadevan, said Switch Mobility plans to begin E-MaaS in India soon and it's in discussion with private equity investors to raise $200-300 million.

Image Source

Also read: Ashok Leyland to deliver 200 trucks to Bangladesh

Ashok Leyland Limited has planned to expand its compressed natural gas (CNG) range to make about 40% sales in the intermediate commercial vehicle (ICV) segment from this fuel variant. The initiative follows the truck maker losing market share in the ICV segment, which is the biggest volume generator in the commercial vehicles (CVs) after the delayed CNG launch. The company continues to develop its electric vehicles (EVs) and E-Mobility-as-a-service (E-MaaS) portfolio under its electric mobility arm, Switch Mobility, aiming to raise $200-300 million in ongoing funding round. Ashok Leyland announced the launch of 14 and 16 tonnes of CNG trucks and plans to expand its range to an 11 tonne truck in the next two months and multi-axle vehicles. This launch arises when the commercial vehicle market is seeing a rebound after a three-year slump. In the ICV and light commercial vehicle segment, fleet operators favour CNG over diesel as fuel as it offers significantly low running costs. The increasing number of CNG fueling stations and a green tax on diesel CVs are also under adoption. Currently, CNG accounts for 35-40% of the ICV segment and over 10% of the entire CV market. The recent shortage of trucks with fleet operators is spurring demand. The company is also developing alternate fuel technologies like liquefied natural gas (LNG) as an alternative for diesel-run Medium and Heavy Commercial Vehicles (M&HCVs). It will be able to offer these technologies to the market when the ecosystem essential to their adoption matures. Chief financial officer of Ashok Leyland, Gopal Mahadevan, said Switch Mobility plans to begin E-MaaS in India soon and it's in discussion with private equity investors to raise $200-300 million. Image Source Also read: Ashok Leyland to deliver 200 trucks to Bangladesh

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement