Ashok Leyland, the Indian flagship of Hinduja Group and the country’s leading commercial vehicle manufacturer, signed a memorandum of understanding (MoU) with Indian Bank to provide finance facilities for its M&HCV dealers.

Through the cooperation, Ashok Leyland's M&HCV dealers will have easier access to finance solutions, enabling them to improve company operations and effectively manage their working capital. Dealers may grow their operations with ease thanks to Indian Bank's customised financing alternatives, which offer better liquidity, quicker loan approvals and competitive interest rates. This partnership underscores Ashok Leyland's dedication to empowering its dealer network and promoting sustainable growth in the commercial vehicle sector by guaranteeing increased financial flexibility.

C Neelakantan, Head of Treasury and Direct Taxation at Ashok Leyland, and Saurabh Dalmia, Head of Cash Management at Indian Bank, signed the MoU in the presence of Madhavi Deshmukh, National Sales Head of MHCV at Ashok Leyland, Ashutosh Choudhury, Executive Director, Roopali Singh, DGM-CMS Vertical, and Munash Dalal, AGM-CMS Vertical, who were representatives from Indian Bank.

Balaji K M, CFO, Ashok Leyland, said, “Ashok Leyland is delighted to partner with Indian Bank to offer customised finance solutions to our valued M&HCV dealers. With Indian Bank’s expansive network of 5,880 branches across India, we can cater to our dealers in every region. This strategic partnership will strengthen Ashok Leyland's market position. We remain committed to delivering exceptional experiences to our customers.”

Madhavi Deshmukh, National Sales Head – MHCV, Ashok Leyland, said, “The strategic collaboration with Indian Bank will deliver exceptional financing solutions to our valued dealers, extending our market reach and reinforcing our commitment to innovation and partner success. This partnership will provide tailored financing solutions designed to meet the unique requirements of our dealers. We remain dedicated to fostering long-lasting relationship with our dealer network.”

Ashutosh Choudhury, Executive Director, Indian Bank, said, “Indian Bank is pleased to partner with Ashok Leyland to provide their dealers seamless and tailored financing solutions. This collaboration reaffirms our commitment to supporting the diverse financial requirements of businesses in the commercial vehicle sector. With Indian Bank’s best-in-class processes, we are confident that more dealers will benefit from this partnership, enabling them to scale their operations and drive business growth.”

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Tata Motors, India’s largest commercial vehicle manufacturer, has marked the 21st anniversary of its iconic Tata Ace by launching the all‑new Ace Gold+ XL. This milestone in last‑mile mobility introduces a thoughtfully evolved variant designed for higher payloads and longer body applications. The Ace Gold+ XL extends the legacy that originally reshaped small cargo movement in India while continuing to support a growing and diverse base of entrepreneurs.

To celebrate 21 years of the Chhota Haathi, Tata Motors has also rolled out a nationwide campaign titled Ikkis Saal Bemisaal. This initiative focuses on entrepreneurs who have built their livelihoods around the Ace. Customer‑centric measures include additional benefits of up to INR 21,000 for women entrepreneurs, reinforcing the company’s longstanding commitment to inclusive growth.

Engineered with an eight‑foot load body and a one‑tonne payload capacity, the Ace Gold+ XL enables higher cargo volume per trip to improve owner profitability. The vehicle uses advanced Lean NOx Trap technology, eliminating the need for Diesel Exhaust Fluid and thereby reducing operating complexity and maintenance effort. A 700-cc turbocharged diesel engine delivers 22 PS of power and 55 Nm of torque, offering a lower total cost of ownership, improved uptime, and dependable performance for demanding last‑mile logistics.

Supported by Tata Motors’ comprehensive small commercial vehicle ecosystem, the Ace Gold+ XL joins a portfolio that spans diesel, petrol, CNG, bi‑fuel and electric powertrains for payloads from 750 kilogrammes to two tonnes. The company’s Sampoorna Seva 2.0 lifecycle support programme, along with over 2,500 service and spares outlets and the Star Guru network of trained technicians, ensures assistance at every stage of ownership. Through this latest variant, Tata Motors continues to power entrepreneurial growth and strengthen last‑mile logistics across the country.

Pinaki Haldar, Vice President & Business Head – SCVPU, Tata Motors Ltd., said, “With the launch of the all‑new Ace Gold+ XL, Tata Motors advances the next chapter of India’s most transformative commercial vehicle – one that continues to evolve to meet the needs of modern intra‑city and last‑mile logistics. Extending the Ace’s relevance into higher‑load applications, the Ace Gold+ XL is designed to deliver greater efficiency, reliability, and pride of ownership for today’s entrepreneurs. Launched in 2005, the Tata Ace pioneered India’s four‑wheel small commercial vehicle category and redefined last‑mile logistics by enabling entrepreneurship at scale. The Ace’s enduring relevance is reflected in an industry‑first milestone: for 21 years, one Ace has been sold every 4.25 minutes – earning the trust, respect, and loyalty of over 2,600,000 owners across the country.”

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Delhi-NCR-based electric commercial vehicle manufacturer Euler Motors has announced its revenue from operations reached INR 4.02 billion, up from INR 1.91 billion in FY2025, supported by a significant acceleration in sales volumes.

The company sold 7,576 electric vehicles in FY2026, up 181 percent YoY, albeit a low-year ago base. The Turbo EV 1000 gained substantial traction with 2,084 units sold, allowing the company to capture a 25.9 percent market share in this category.

In terms of segment-wise performance, the company sold 3,088 units of 3W cargo, 2,728 units of 4W cargo and 1,760 units of 3W passenger vehicles.

Growth was primarily driven by logistics and e-commerce operators focused on vehicle uptime and earnings potential.

For FY2026, total income reached INR 4.33 billion, which includes INR 310 million in non-operating income following a Series D fundraise. EBITDA margin improved from 119 percent in FY2025 to -62.9 percent in FY2026. Net loss for the period was INR 3.08 billion, which marks 61 percentage points reduction in losses as a percentage of revenue. Expenses was reduced to INR 1.84 per rupee of revenue, compared to INR 2.42 in the previous financial year.

During the fiscal, the total costs rose to INR 7.41 billion as the company invested in manufacturing and infrastructure: Material costs came at INR 3.56 billion, tracking the increase in sales volumes. Employee benefits rose by 40 percent to INR 1.04 billion to support headcount additions for aftersales and manufacturing.

Going forward, the company plans to expand its distribution and service network to over 200 touchpoints in FY2027. Euler Motors projects that volumes across its portfolio will grow by at least 40 percent YoY, with an increasing contribution from the 4W cargo EV segment.

Saurav Kumar, Founder & CEO, Euler Motors, said, “FY26 marks our transition from early adoption to early scale, with revenue more than doubling and EBITDA margins improving meaningfully as unit economics strengthen. While absolute losses have increased in line with our investments in scale, the underlying efficiency of the business has improved significantly. In 3W Cargo EV, we have built a strong foundation, with over 10,000 HiLoad EVs sold cumulatively. We are also expanding thoughtfully into the 3W passenger EV segment — focusing on understanding customer needs while shaping a differentiated value proposition. In the 4W cargo EV market, despite being a relatively late entrant, we are now seeing clear product-market fit. The Turbo EV1000 has validated that demand in this segment is real, scalable, and repeatable. Our focus now is to deepen this advantage — by expanding distribution, strengthening service infrastructure, and scaling manufacturing — to build a durable leadership position in India’s emerging electric commercial vehicle market.”

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Pune-headquartered automotive company Force Motors has introduced the new Force Traveller N Range, which includes specific applications for ambulances, school buses and delivery vans. This new series is designed to replace the current-generation Traveller entirely, with all future production transitioning to the new range. The Traveller currently maintains a segment share of over 70 percent in India.

The Force Traveller N Range features several upgrades intended to provide a more contemporary experience for drivers and passengers.

The commercial vehicle introduces a car-like cockpit featuring a digital instrument cluster and a 9-inch infotainment screen.

In terms of passenger comfort, it gets ergonomically designed seats, an updated HVAC system for improved cooling, and reduced noise, vibration and harshness (NVH) levels for a quieter cabin.

The exterior features a new front fascia with Daytime Running Lights (DRL) and LED turn indicators, as well as a redesigned rear. The company says the sheet metal structure has been re-engineered to reduce the number of body joints, improving structural integrity and build consistency.

In terms of performance, the Force Traveller N range is powered by the FM 2.6 CR engine, which complies with BS-VI Stage 2 emission norms. To assist fleet operators, the vehicles are equipped with two support systems:

• Force Care: This service package offers extended and parts warranties, roadside assistance and accidental repair support.
• iPulse: An integrated system that provides real-time vehicle tracking and diagnostic capabilities.

Force Motors says it has applied manufacturing processes and quality systems learned from its Urbania model to the new Traveller N Range, utilising advanced technologies such as robotics and automated door hemming. Bookings for the new range will open at dealerships across India starting in mid-May 2026.

Prasan Firodia, Managing Director, Force Motors, said, “The new Force Traveller N Range builds on the strong trust the Force Traveller has earned over the years, while making it more refined, capable, and better suited to today’s customer expectations”.

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Ashok Leyland, the Indian flagship of the Hinduja Group and the nation’s leading commercial vehicle manufacturer, has expanded its presence in Odisha with a new light commercial vehicle dealership in Rourkela. This facility represents the company’s seventh LCV outlet in the state, reinforcing a nationwide distribution network that now exceeds 945 customer touchpoints. The product range available includes BADA DOST, DOST, SAATHI, PARTNER and MiTR.

The newly appointed channel partner, SteelEx India, operates a 3S facility covering sales, service and spares at Brahmani Tarang in Vedvyas, Rourkela. Strategically positioned to serve local demand, the site features 12 quick service bays alongside modern infrastructure aimed at delivering a superior customer experience.

With this inauguration, Ashok Leyland continues to strengthen its light commercial vehicle footprint in eastern India, leveraging a robust service backbone to enhance vehicle uptime and owner support in the Rourkela region.

Viplav Shah, Head – LCV Business, Ashok Leyland, said, “Odisha has always been an important market for us, and we are excited to further strengthen our presence in this region. Our relationship with customers is built on trust, performance and shared growth. Our products are known for their superior mileage, reliability and performance with a robust network and an industry-leading service retention; we take pride in the continued confidence our customers place in us. The opening of this new dealership marks another step in our commitment to delivering world-class products and unmatched service.”

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