Ashok Leyland showcased its advanced mobility solutions at the Auto Expo 2023 today. The company demonstrated its futuristic vehicle range, powered by electric and hydrogen options.

According to Ashok Leyland, its products showcased at the Auto Expo 2023 are as follows –

Battery Electric Vehicle (BEV)
Ashok Leyland's BOSS Battery Electric Vehicle, designed for a green, sustainable world, runs on a battery that powers the motor that drives the vehicle. This vehicle uses a lithium-ion battery, which is charged externally, states the commercial vehicle manufacturer. To provide payload advantage, the vehicle comes with lightweight design.

Fuel Cell Electric Vehicle (FCEV)
As per Ashok Leyland, its fuel cell electric truck is powered by hydrogen. In the fuel cell, atmospheric oxygen – along with hydrogen – produces electricity. This powers the power electronics, and further the motor that drives the vehicle. Ashok Leyland claims that this vehicle uses a lithium-ion battery with an external charging provision to run as a limited battery vehicle. To ensure maximum safety, the vehicle comes with a leak detection system.

Hydrogen Internal Combustion Engine Vehicle (H2-ICE) 
According to Ashok Leyland, the Hydrogen Internal Combustion Engine Vehicle (HICEV) is powered by a renewable and clean energy source, hydrogen. The sustainable vehicle, coupled with advanced technology, is powering a safer and smarter future. Ashok Leyland states that H2-ICEs are similar to conventional combustion engines and only a few tweaks are made to convert them to run on hydrogen. This vehicle is also equipped with Advanced Driver Assistant System (ADAS) for enhanced vehicle and road safety.

Liquefied Natural Gas vehicle
The automotive manufacturer’s dual-fuel vehicle, Liquefied Natural Gas vehicle, runs on LNG and CNG. As per the company, its smart and sustainable fuel system propels us toward a prosperous and greener future. Liquefied natural gas (LNG) vehicles work similar to gasoline-powered vehicles, with a spark-ignited internal combustion engine. Ashok Leyland claims that the natural gas is super cooled and cryogenically stored in liquid form in a tank mounted on the truck. LNG is typically preferred in heavy-duty vehicles to meet longer range requirements.

Intercity CNG bus
According to Ashok Leyland, its 13.5 m intercity CNG Bus (4X2), the longest bus in the segment, runs on India’s most powerful turbo charged CNG engine. In this vehicle, 1,500 litres (255 kg) of CNG fuel is stored in lightweight composite cylinders, which are safely mounted over the frame, and has a range of approximately 1,000 kilometres. The bus comes with a maximised luggage space of 11 cubic metres, highest among the CNG buses, states the commercial vehicle manufacturer. With 36 berths, it also offers 20 percent higher passenger capacity.

Mini passenger bus
Bada Dost Xpress is a mini passenger bus that prioritises environment, comfort and performance, as per Ashok Leyland. The automotive manufacturer claims that powered by the next generation engine, the bus is suitable for both, city and highway driving. Designed ergonomically to seat 12 passengers, the vehicle redefines passenger comfort with easy entry and exit. The grab rails, safety handles and anti-skidding flooring make walking inside the passenger saloon safer and easier, according to Ashok Leyland. It also offers optional features of AC and a vehicle tracking system (VTS).

While launching the new alternative energy products, Dheeraj Hinduja, Executive Chairman, Ashok Leyland, said, “Ashok Leyland has always been a pioneer in introducing state-of-the-art technologies in the commercial vehicle space. Through this futuristic and innovative product portfolio, we have once again demonstrated our technological leadership, and more importantly, our commitment to the clean mobility mission. The range of our new clean energy products, covering both the truck and bus segments, underscores our capability and readiness to lead the transformation in the road transportation sector. We will remain deeply invested in the cause of sustainability, aspiring to lead the market with our new-generation commercial vehicles.”

Sharing his views, Shenu Agarwal, Managing Director and CEO, Ashok Leyland, commented, “We are delighted to showcase our offerings here at the Auto Expo 2023. The automotive sector has seen a wave of technological upgrade in the last two years with green fuel being the future of the industry. Having one of the best R&D teams in the country, we want to continue our path to innovate and leverage new technology to be a leader in sustainable and environment-friendly mobility. Our aim is to make India's alternate fuel segment self-reliant and be one of the flag bearers of the ‘Atmanirbhar Bharat’ campaign.”

Mumbai-headquartered automotive major Mahindra & Mahindra has announced an ambitious growth plan for its commercial vehicle (CV) business, thanks to the recent strategic acquisition of a majority stake in SML Isuzu. The company aims to leverage this acquisition to accelerate its ‘Deliver Scale’ strategy across segments where it believes it has a strong ‘right to win.’

Dr Anish Shah, Managing Director and CEO, Mahindra Group, emphasised that the group’s disciplined focus on capital allocation remains intact. "We have seen significant growth across several businesses, and now, as we enter our third phase, the focus is on delivering scale," he said.

Shah also noted that Mahindra has turned around its CV business, once under scrutiny five years ago, and sees the acquisition of SML Isuzu as a strategic opportunity to cement its position further.

Today, Mahindra is the market leader in SUVs with a 23 percent market share and ranks fifth in the CV segment above 3.5 tonnes with a 3 percent share. Through the acquisition, Mahindra aims to become a more formidable player in the CV space.

"We are targeting a combined market share of 10-12 percent by FY2031 and over 20 percent by FY2036," said Rajesh Jejurikar, Executive Director and CEO – Auto and Farm Sectors, Mahindra & Mahindra. He acknowledged that Mahindra’s CV share, which stood at around 4-5 percent in FY2020, had dropped due to the impact of Covid-19. However, with renewed focus, especially in the LCV and ILCV segments, Mahindra is planning an aggressive recovery.

SML Isuzu brings strength in the intermediate LCV bus segment, holding a 16 percent market share. Mahindra expects that, combined, they could command a 21 percent share. "The synergies are substantial across cost structures, platforms, aggregates, supplier networks, and operations," Jejurikar added.

Growth, Not Cost-Cutting

Mahindra leaders were clear that the SML Isuzu acquisition is not about cost-cutting, but about building scale. "This deal is about growth, not about taking costs out," stressed Amarjyoti Barua, Chief Financial Officer, Mahindra Group. He highlighted that SML Isuzu will remain a separately listed entity and that Mahindra has no plans to rebrand it under the Swaraj name, even though it sees potential for the Swaraj brand in certain export markets.

Financially, Mahindra believes the deal makes strategic sense. Shah pointed out that the SML Isuzu business will be self-sustaining in generating cash for future investments.

The company sees SML Isuzu's operations as a ‘well-run and frugal factory,’ with most future investments primarily required to ramp up capacity.

Vinod Sahay, President - Aerospace & Defence, Trucks, Buses & CE, Mahindra, underlined how the product portfolios of Mahindra and SML Isuzu complement each other. SML Isuzu, for instance, is at an advanced stage in developing electric buses for school, staff and executive coach applications, an area where Mahindra's electrification expertise can add substantial value.

Sahay further highlighted how combining Mahindra and SML Isuzu’s supplier ecosystems will strengthen bargaining power, especially in critical areas like tyres, batteries and key aggregates. While Mahindra boasts strong sourcing power in tyres and batteries, SML Isuzu has an edge in CV parts.

Product synergy is another opportunity. SML’s strong CNG product line and Mahindra’s newer Furio and Cruzio models – offering 8-10 percent better fuel efficiency – will allow the combined business to offer compelling choices to customers across the LCV, ILCV and M&HCV categories.

With over 200 dealers and 400 touchpoints between them, Mahindra plans to optimise and expand network coverage for a wider reach.

While Mahindra is bullish on growth, Shah made it clear that there are no immediate plans for further acquisitions. "Now the business must prove itself," he said, reiterating the company’s strategic belief in building businesses that have a clear right to win, strong financial metrics and differentiated products.

Looking ahead, Mahindra is betting that a stable yet evolving CV market – especially in buses and light trucks, which the management stated will provide the runway needed for long-term growth, as the group consolidates its position as a dominant player across automotive categories.

Mumbai-based automotive major Mahindra & Mahindra has announced a bold move to strengthen its position in the commercial vehicle (CV) market with an agreement to acquire a 58.96 percent stake in SML Isuzu (SML) at INR 650 per share, representing an investment of INR 5.55 billion.

Following the acquisition, Mahindra will also launch a mandatory open offer to acquire up to an additional 26 percent stake from public shareholders, in compliance with SEBI's Takeover Regulations.

This strategic acquisition marks a major step forward in Mahindra’s ambition to expand its footprint in the >3.5-tonne CV segment. At present, Mahindra holds a modest 3 percent market share in this space, compared to its dominant 52 percent share in the <3.5-tonne light commercial vehicle (LCV) market. With the addition of SML’s capabilities and brand strength, Mahindra expects to immediately double its market share to 6 percent, and is aiming for 10–12 percent by FY2031 and over 20 percent by FY2036.

Founded in 1983, SML Isuzu is a listed company with a all-India presence and a strong legacy in the trucks and buses segment. It holds a leading 16 percent market share in the Intermediate Light Commercial Vehicle (ILCV) buses category. For FY2024, SML reported operating revenue of INR 21.96 billion and an EBITDA of INR 1.79 billion, showcasing profitable operations, frugal manufacturing and strong engineering capabilities.

Mahindra sees the acquisition as an opportunity to unlock significant value through synergies across cost optimisation, network expansion, brand integration, manufacturing efficiency, talent pool strengthening and complementary product portfolios. Mahindra states that its Trucks and Buses Division has already made notable advances in technology, design and innovation by leveraging its broader automotive capabilities – strengths that will be further enhanced through this deal.

The transaction structure involves Mahindra acquiring the entire 43.96 percent stake held by Sumitomo Corporation, the current promoter of SML, as well as a 15 percent stake from Isuzu Motors.

Dr Anish Shah, Group CEO & MD, Mahindra Group, said: “The acquisition of SML Isuzu marks a significant milestone in Mahindra Group’s vision of delivering 5x growth in our emerging businesses. This acquisition is aligned with our capital allocation strategy for investing in high-potential growth areas that have a strong right to win and have demonstrated operational excellence.”

Rajesh Jejurikar, Executive Director and CEO, Auto and Farm Sector, Mahindra & Mahindra, added, “SML brings a strong legacy, a loyal customer base and a credible product portfolio that complements Mahindra’s existing offerings in the trucks and buses segment. This acquisition is a pivotal step toward our ambition to become a full-range, formidable player in commercial vehicles by enhancing market coverage, unlocking operating leverage through platform consolidation, a unified supplier and network base, and better plant utilisation. Together, we are well-positioned to scale rapidly and drive profitable growth.”

In what may come as a welcome push for road safety in India, the Ministry of Road Transport and Highways (MoRTH) plans to launch a new safety assessment rating for trucks and commercial vehicles on the lines of the Bharat New Car Assessment Program (BNCAP).

The announcement was made by Nitin Gadkari, Union Minister of Road Transport & Highways, while inaugurating a two-day workshop of Vehicle and Fleet safety jointly organised by the Global New Car Assessment Program (GNCAP) and the Institute of Road Traffic Education (IRTE).

“The idea is to encourage manufacturers to improve the production quality, making vehicles safer. Similarly, the government is already working on standards and a safety assessment system for battery-operated e-rikshaws in the country, as they suffer from safety issues. The safety improvement in e-rickshaws will improve their quality and generate more employment. India accounts for the highest number of fatal road accidents with 4.8 lakh road crashes each year resulting in 1.8 lakh deaths. The government’s top priority is on road safety, expansion of safe highways and vehicle safety and bolstering electric vehicles. The ministry is also working on reducing logistics cost to 9 percent in the next couple of years from the present 14-16 percent, as the automobile industry plays a key role in India’s economic growth.”

He further added that MoRTH was now also working on a law to determine the working hours for truck drivers. At present, many truckers continue to drive vehicles for 13-14 hours a day, as the country is facing a shortage of truck drivers.

The government also plans to set up 32 state-of-the-art driving institutes across the country. Air conditioning of driver compartments has already been made mandatory by the ministry. Advanced Driver Assistance System (ADAS) to assist drivers has also been made mandatory”, the minister added.

It was just a few days back government introduced road safety as part of the school curriculum for students of classes 1-12, the modules are expected to be introduced in the current academic year.

David Ward, President Emeritus, Global NCAP, said, “Consumers in India with most vehicles having GNCAP and BNCAP assessment ratings have a better choice of safer vehicles. It is a good moment towards the UN objective of road safety by 2030.”

Dr Rohit Baluja, President, IRTE, added, “The two-day workshop will review progress in vehicle safety worldwide and in India since 2000 and the priority actions needed to achieve further improvements by 2030 and beyond. In particular, the meeting will examine efforts to improve automobile safety worldwide by reviewing the progress made by the G20 major economies, including India, to implement the Global Plan vehicle safety recommendations and feature special sessions on fleet and motorcycle safety.”

Montra Electric’s e-SCV (small commercial vehicles) division, Tivolt Electric Vehicles has inaugurated its first e-SCV dealership in Jaipur, Rajasthan, which also is its first in the region.

The new channel partner Ensol Infratech has a state-of-the-art 3S (sales, service, spares and charging) facility to provide a comprehensive buying and aftersales support.

The dealership was inaugurated by Jalaj Gupta, Managing Director, TI Clean Mobility (Montra Electric) and Arun Sharma, Managing Director, Ensol Infratech, in presence of Saju Nair, CEO, Tivolt Electric vehicles, Sunil Kataria, Director, Ensol Infratech and key stakeholders, including dealers, customers, suppliers and other guests.

With this Montra Electric’s Eviator e-SCV will be available in Jaipur. It comes with a claimed certified range of 245 km and a real-world range of 170 km, 80 kW motor and an 300 Nm torque. The company currently offers an extended warranty of up to 7 years or 2.5 lakh km.

Jalaj Gupta, said, “Montra Electric has been at the forefront of India’s EV transformation, and we are excited to inaugurate our first dealership in the state of Rajasthan. Eviator is India’s first TRU-EV, setting a new benchmark in mid-mile and last-mile mobility with its advanced design, powerful performance, and exceptional durability. The launch of this dealership facility is a testament to our vision of delivering cutting-edge, high-performance e-SCV in the region.”

Saju Nair, added, “Rajasthan is an important market for us, and we are thrilled to mark our entry into the state with our first dealership in Jaipur. At Montra Electric, we are driven by a strong commitment to innovation and sustainability in clean mobility. This launch is a significant milestone in our journey, enabling us to get closer to our customers and deliver high-performance electric small commercial vehicles (e-SCVs) that meet their evolving needs. Our partnership with Ensol Infratech further strengthens our ability to provide customised solutions and outstanding service across the region.”

Arun Sharma, shared, “We are delighted to join hands with Montra Electric in setting up this new dealership. This collaboration marks a significant step in strengthening Montra Electric’s footprint as a leading EV brand in the region, while improving customer access to dependable, high-performance electric small commercial vehicles. Together, we look forward to expanding our reach and delivering tailored mobility solutions that cater to the evolving transportation needs of our customers.”