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The agreement was signed in Chennai today by Mr. This agreement follows the signing of the Heads of Agreement HoA document in August and reflects progress achieved with the detailed project evaluation. It formalizes the partnership between the companies, which will include the development and manufacture of LCV products under both the Ashok Leyland and Nissan brands as well as cooperation in sales.
Vehicle Manufacturing Company — a company with exclusive rights to manufacture LCV products in India for both the partners. Production will start in and will include the new generation Nissan Atlas F24 light-duty truck, in addition to a range of products covering applications from 2.
In the medium term, production volume, intended for both Indian and export markets, is expected to grow beyondunits annually.
Powertrain Manufacturing Company —responsible for the manufacture and assembly of engines and other drivetrain components to be fitted in LCV products and for export. Technology Development Company —responsible for the development of LCV products and related powertrains, destined for the Indian and hinduja ventures business plan global markets.
This JV company will be owned The products developed will be sold under both the Ashok Leyland and Nissan brands.
In addition, the two partners also expect to cooperate to leverage each other's dealer networks in specific global markets. For example, this could provide Nissan with access to Ashok Leyland's dealers in India and for Ashok Leyland, access to Nissan dealer networks in specific export markets.
The JV is also set to benefit from leveraging the sourcing strengths of both the partners. Hinduja, President of the Hinduja Group of Companies: Nissan, under the leadership of Mr.
Carlos Ghosn, has shown exemplary vision in using partnerships for growth. The products will set new benchmarks in technology and customer value. This partnership with Nissan will allow both companies to develop a range of cost-competitive and customer-oriented LCVs targeted not only to the Indian market but several select markets overseas.
We are confident that the JV structures will facilitate both companies to achieve this objective with equitable contributions. This agreement accelerates our LCV business in India and lays the foundation for further growth through exports. Ashok Leyland shares our vision of a successful win-win partnership, where both companies are focused on value generation for all stakeholders.
We are now focused on selecting the best production site to ensure the optimum mix of efficiency of operations, logistics and quality of the output. The Group, founded by Shri P. Hinduja inhas activities across three core areas: The Hinduja Group also supports charitable and philanthropic activities across the world through the Hinduja Foundation.
With six manufacturing locations at Chennai, Hosur three plantsAlwar and Bhandara, the Company has an annual production capacity of 84, vehicles which is being enhanced toin the current year.
Nissan Motor Company generated global net revenues of Nissan is present in all major global auto markets selling a comprehensive range of cars, pickup trucks, SUVs and light commercial vehicles under the Nissan and Infiniti brands. Nissan employs overpeople worldwide.
Under the Nissan Value-Up business plan, the company continues to focus on long-term sustainable and profitable growth driven by three commitments:Feb 13, · Investors are always looking for growth in small-cap stocks like Hinduja Ventures Limited (NSEI:HINDUJAVEN), with a market cap of IN₨B.
However, . Hinduja Realty Ventures Limited (HRVL) FDI Compliant Yelahanka Bangalore 40 Acres Non-FDI Compliant Mumbai Business Leverage Hinduja Group’s Brand Image Value addition - Mixed Use Integrated Development High Quality Building Plan Approvals Karnataka Industrial Area .
Mansukhani will face several challenges as head of Hinduja Group’s cable TV and headend-in-the-sky (HITS) business. The two lines of operations are being merged into a single entity.
With the convergence of technology and communications, HINDUJA VENTURES has converged its media assets under one company INDUSIND MEDIA AND COMMUNICATIONS LTD, offering quality infotainment services & products to its consumers.
The Hinduja group has formed as an independent company to spearhead its defence business. Ashok Leyland Defence Systems, is the newly floated company by the Hinduja Group. Ashok Leyland,the flagship company of Hinduja group, holds 26 percent in the newly formed Ashok Leyland Defence Systems (ALDS), which has a mandate to design and develop defence logistics and tactical vehicles, .
He is the current managing director of Hinduja Bank. The Switzerland based bank brought him on board back in He has been involved in a good number of Europe and India cross border transactions.