Chennai:Hinduja group flagship Ashok Leyland is working on hydrogen-powered commercial vehicles and a team is currently engaged in developing them, a top official said on Monday. For the time being, the company would stick to the Rs 750 crore earmarked for taking up the capital expenditure plan this financial year.
"We are working very closely on hydrogen-powered CVs (commercial vehicles) At this point of time, we do not want to talk more about it. We are deeply engaged and a team is currently working on it," Ashok Leyland CEO and MD Vipin Sondhi told reporters. The company has drawn up plans to roll out CNG-fitted commercial vehicles that are expected to hit the roads during the fourth quarter of this financial year.
Ashok Leyland CFO Gopal Mahadevan, responding to a query on whether the company was would invest more than the Rs 750-crore capex as was announced earlier or whether will look at revising it, said, "I think we will stay with that number (Rs 750 crore) at the moment".
To a query on exports, Sondhi said the company was looking at having a greater play in the African market. "Our traditional markets have been SAARC, Middle-East, Nepal and Sri Lanka. As we move forward, you will see us having a greater play in Africa. I think the fleet we have is larger, more comprehensive both in left-hand and right-hand drive (markets)," he said.