Recording a 353 percent increase in the revenue for the first quarter of FY2021-22 at INR 29,510 million in comparison to the revenue generation of INR 6,510 million in the corresponding quarter of FY2020-21, Ashok Leyland is confident of a strong demand emerging post the second Covid-19 wave. Clocking export volumes of 1,437 units in the first quarter of FY2021-22, up 254 percent when compared to the export of 405 units in the first quarter of FY2020-21, the commercial vehicle manufacturer is concentrating on vaccination and the adherence of safety protocols to try and ensure that all its stakeholders stay protected from a potential third wave. Experiencing a 1,041 percent growth in domestic M&HCV volume in the first quarter of FY2021-22, which is almost twice than that of the industry growth volume at 562 percent during the same period, the company has reported a net loss of INR 28,20 million in the first quarter of FY2021-22 as against a net loss of INR 38.90 million in the corresponding quarter of FY2020-21. Selling 8,690 LCVs in the domestic market in the first quarter of FY2021-22, up 224 percent as compared to the sale of 2,686 LCVs in the corresponding quarter last fiscal, Ashok Leyland is closely observing the way the freight rates are shaping up. It is confident that freight rates will improve with higher availability of commercial vehicles once the Covid-19 subsidies and uncertainty fades. “We are hoping for the volumes to grow higher as the market gets better,” mentioned Mahadevan. “July (2021) has been a growth month,” he added. Stressing that they have had eight months of degrowth, Mahadevan said, “Economic growth will induce growth in CVs.”

CV trends
Working on a strategy for a robust domestic and exports growth, the commercial vehicle major is appointing dealers in Africa. Looking at gaining good traction in South East Asia, Ashok Leyland will launch new products in the LCV segment even though not in the immediate quarter. Buoyed by the international markets opening up and experiencing export thrust, the company is said to be testing an electric version of its LCV platform on which the Bada Dost is based in the UK. This vehicle is expected to be launched at the end of this fiscal or in the first half of the next fiscal. Of the opinion that electric vehicles are catching up, especially at the local point of use, on the encouragement of the governments, Mahadevan averred, “It is more to do with buses, but trucks will catch up.” Seeing a trend of petrol commercial vehicles in the low-tonnage segment of sub-1 tonne to 1.5 tonne, Mahadevan drew attention to the push on CNG. “We are ready in the LCV and ICV (segment),” he added. Of the firm belief that diesel vehicles will continue and the IC engine will coexist and not die overnight, Mahadevan said, “We are ready to cater to higher demand.” 
 

Watching closely how freight operators are able to pass on the fuel price hike to their end customers, Ashok Leyland is hoping that bus commute will pick up. A 40,000 units per annum market, according to Mahadevan, buses have been severely affected due to the Covid-19-led disruption. Delivering 40 electric buses to the city of Chandigarh recently (from where it has bagged an order to build and maintain e-buses with quick charging technology), Ashok Leyland is expecting pent-up demand to show up once normalcy returns. Also expecting demand to show up because of the need to ferry people without sacrificing social distancing norms, Mahadevan drew attention to their work towards further strengthening their position in the bus and LCV market segments. With the talk of schools reopening in regions where the Covid-19 infections are down, and the relaxation in Covid-19 norms in some region allowing more employees to return to their offices, bus demand is expected to improve post witnessing a sudden downfall mid-last year. Through the establishment of Switch Mobility, Ashok Leyland is keen to experience a speedier ride in the ‘cleaner and greener’ bus space. 
 

Managing costs and productivity 
Eyeing international markets like the US, Europe and Japan, the company, through the Switch Mobility subsidiary, has worked with a few consultants to make sure that its data points and numbers are on par with the current situation. Under Switch Mobility, it is developing new products to present an advantage of unique position in terms of value and premium positioning. For its Switch Mobility subsidiary that includes the erstwhile Optare of UK, Ashok Leyland has managed to get USD 18 million worth of investment from Dana Incorporated (Dana), a US-based manufacturer of drivetrain and e-propulsion systems. To do de-bottlenecking once enough demand is evident, Ashok Leyland, investing sufficiently in terms of capex, is confident of seeing early growth sprouts in LCVs. Therefore, if it were to do immediate capex investment, it would be in LCVs. Discussing with scrappage centres post the announcement of the scrappage policy, Ashok Leyland, the second-largest CV maker in the country, is witnessing good traction from its other business verticals like defence, power solutions and aftermarket. They are contributing to its top line. 
 

With the pace of vaccination picking up and positively setting in, Ashok Leyland is expecting a demand spike in commercial vehicles after the fear of a third Covid-19 wave is over. This, according to Mahadevan, could happen in the second half of this fiscal. Focusing on costs, productivity and middle level management, the commercial vehicle major is also concentrating on reducing its carbon footprint. Apart from announcing strategic steps to move towards net zero carbon mobility through Switch Mobility, Ashok Leyland, said Mahadevan, has formed an ESG committee of the Board. The committee will guide and propel the commercial vehicle manufacturer to achieve its sustainability agenda.
 

Comments (0)

ADD COMMENT

Link Copied!

Vietnamese electric vehicle company VinFast, part of Vingroup, is further accelerating its India business plans by strengthening its leadership team.

In fact, VinFast India, which is set to expand its product offerings in the country by introducing electric two-wheelers later this year, has appointed Vineet Srivastava as the Deputy CEO for its e-scooter business.

Srivastava, a sales strategy veteran, joins the Vietnamese company from Honda Motorcycle & Scooter India, where he led enterprise-wide verticals, including Sales Strategy & Planning, Institutional Sales and Retail Finance.

In his over 15-years of relationship with Honda Motorcycle & Scooter India, he was instrumental in onboarding 894 Authorised Secondary Networks and mobilised over INR 2.7 billion in funding for the company.  

Prior to that, he has worked with Kotak Mahindra Old Life Insurance Company, SBI Life Insurance Company and ICICI Prudential Life Insurance Company.

He holds a Bachelor's Degree in Commerce. In his new role, Srivastava will be tasked with developing VinFast India’s e-scooter network, business development, sales operations, promotion and market planning.

While VinFast India currently sells electric passenger vehicles, it is set to introduce electric scooters like its globally popular offerings the Evo, Feliz and Viper.

Comments (0)

ADD COMMENT

Link Copied!

Uber has appointed Arpit Tyagi as the Head of Advertising for its Indian operations to further scale its advertising business and expand partnerships with brands, agencies and marketers within the region.

Tyagi will lead the commercial strategy and operations for Uber Advertising in India. He will oversee a dedicated India-based team tasked with developing solutions that allow brands to engage consumers during ‘high-intent, real-world moments’ on the Uber platform.

He brings over 15 years of experience in advertising, media and marketing technology to the role. The executive has extensive experience in retail media, data-driven marketing, and customer-centric innovation at Amazon Ads and he most recently served as Director of Enterprise Sales at The Trade Desk, where he managed strategic partnerships with major Indian advertisers and agencies.

Michael Levine, Head of APAC Sales, Uber Advertising, said, “India is one of the most dynamic and exciting advertising markets in the world, and Uber is uniquely positioned to help brands connect with consumers at moments that matter. Arpit brings a strong understanding of the evolving advertising ecosystem and a proven track record of building high-performing businesses.”

Uber Advertising operates in over 35 markets globally. In India, the business has seen growth across sectors such as CPG, media and entertainment, technology, e-commerce, and retail. To date, the platform has partnered with over 200 brands and agencies in the region.

Tyagi said, “Uber sits at the intersection of people's everyday movements and decisions, creating unique opportunities for brands to engage audiences in highly contextual and measurable ways. I'm excited to join Uber at such a pivotal moment and look forward to working with our partners to help them achieve their business objectives through innovative advertising solutions.”

Comments (0)

ADD COMMENT

Link Copied!

Honda India Foundation (HIF) has provided 26 emergency response vehicles to the Udaipur Police to assist with patrol and mobility across the district.

The handover includes 25 Honda Shine 100 motorcycles, modified with emergency signalling systems, public address equipment, flashlights, storage units and safety gear. Furthermore, it has provided a Honda Elevate C-SUV, also outfitted for police requirements.

The vehicles are intended for use in tourist zones, urban centres and areas where manoeuvrability is necessary for police operations. This follows a previous contribution of 25 vehicles provided in February 2026 to support the Udaipur Police Tourist Patrolling Team.

The flag-off ceremony was attended by officials including Gulab Chand Kataria, Governor of Punjab and Administrator of Chandigarh; Gaurav Agrawal, District Collector; Gaurav Srivastava, Inspector General of Police, Udaipur Range; Dr. Amrita Duhan, Superintendent of Police, Udaipur and Rajeev Taneja, Operating Officer, Honda India Foundation.

Gulab Chand Kataria said, “Udaipur is an important centre of public and tourist activity, and this effort will further strengthen our Police Patrolling Team to support public safety across the district. I appreciate Honda India Foundation for this meaningful contribution. Their continued engagement in such collaborative efforts contributes to strengthening public service delivery at the local level.”

Comments (0)

ADD COMMENT

Link Copied!

Fleet Management Limited has marked the International Day of the Seafarer by issuing a renewed call for the global community to acknowledge the often-overlooked civilian professionals who underpin international trade. The maritime services provider simultaneously introduced a new digital tool, named Pulse, aimed at delivering continuous and practical assistance to crew members while at sea.

In light of recent diplomatic efforts to stabilise regions such as the Strait of Hormuz, Fleet Management has voiced its support for multilateral actions designed to address the systemic vulnerabilities faced by merchant mariners. The company has highlighted a persistent pattern where civilian seafarers are disproportionately exposed to geopolitical tensions. The stance aligns with the International Maritime Organization's 2026 theme, which underscores the dual reality of seafarers carrying global trade while shouldering significant operational risks.

Since February, an estimated 20,000 civilian seafarers have navigated volatile maritime zones, with roughly 600 of those individuals under Fleet Management's direct supervision. The firm assesses any resumption of transit on a vessel-by-vessel basis, utilising specific risk matrices to ensure that every manoeuvre is deliberate and grounded in stringent safety standards. Support mechanisms under the Fleet Care programme include 24/7 mental health services and wellness initiatives, while the fleet maintains industry-leading insurance coverage for personnel both on duty and during leave.

The newly launched Pulse application is described as a digital lifeline designed to simplify administrative processes and consolidate essential documents for the company's 27,000 seafarers. Beyond reducing bureaucratic burdens, the platform offers uninterrupted access to critical health resources, ensuring that crew members remain connected to the Fleet Care network regardless of location. This technological advancement represents a significant evolution in the company's strategy to deliver consistent, everyday assistance to its global maritime community.

Complementing these operational enhancements, Fleet Management has initiated global advocacy campaigns this week to increase public awareness of seafarers' contributions. Targeted family outreach programmes have been conducted through crewing offices in India, the Philippines and China, alongside community activities and multi-city public campaigns.

These efforts are reinforced by substantial training investments, with the company issuing over 80,000 certificates annually and training 500 cadets each year at the International Maritime Institute to ensure a resilient and proficient workforce.

Dr Harry Banga, Founder and Executive Chairman of The Caravel Group and Fleet Management Limited, said, "Countries, industries and communities rely on seafarers to keep essential goods flowing. Waterways like the Strait of Hormuz are key arteries of the global economy. When disrupted, the impact is immediate. Costs rise. Supply chains tighten. Today is a reminder that the industry and governments must act decisively to uphold safe and free navigation, so seafarers can sail with confidence."

Captain Rajalingam Subramaniam, Chief Executive Officer of Fleet Management Limited, said, "As a company, and as an industry, we have a responsibility to speak up. Seafarers are civilians who carry responsibility in the face of risk and adversity, in conditions beyond their control. This must not become the new normal. They must be seen, heard and properly protected. We are encouraged by the IMO-led evacuation efforts underway to restore safe transit and hope confidence will soon rebuild."

Angad Banga, Chief Executive Officer of The Caravel Group and Executive Director of Fleet Management Limited, said, "Recognition has to translate into action. Not once a year, but every day. That means understanding the pressures our seafarers operate under and responding with consistent, practical support. At Fleet, this shows up in the decisions we make and the systems we build to support our crews."

Comments (0)

ADD COMMENT

Link Copied!