Ashok Leyland aims 40% ICV sales from CNG variant

15 Feb 2022 CW Team

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

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..