Ashok Leyland, India’s second-biggest maker of trucks and buses is likely to sign at least three overseas joint ventures in the next two to three months. The company is planning to do so for consolidating its presence in new geographies. It is in the final stages of inking joint ventures in Indonesia, Chile and Nigeria, keeping the majority holding in each of these partnerships.
The company will be exporting the kits and foreign partners will be responsible for assembling and marketing the buses and trucks. It aims to sell 15,000 vehicles in the global market, this year. Last fiscal, the company sold 12,800 buses overseas, notching up revenue of Rs 1,500 crore, which was 15 per cent of its total turnover. This year the target is Rs 1,700 crore, with the company expecting the new joint ventures to give a significant push to its overseas sales.
