Ashok Leyland

4,000 new jobs to be created

Chennai, India, September 8, 2008 -- The Ashok Leyland – Nissan LCV project crossed a significant milestone today with the signing of a Memorandum of Understanding with the Government of Tamil Nadu for acquiring 380 acres to locate the facilities of the joint venture companies at Pillaipakkam, 40 kms off Chennai. The integrated plant will be utilized to set up the vehicle and powertrain manufacturing facilities and a technology development unit for the three companies of the joint venture that was formed in May 2008.

The working of these companies has already been initiated and the joint venture is on course to roll out the first vehicle by 2010-2011. Exports are expected to account for 20% of the first phase capacity of 100,000 LCVs.

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- Three vehicle platforms for initial launch -
- Brand new Euro III/IV diesel engine to be part of powertrain -

CHENNAI (May 26, 2008) - Hinduja Group flagship Ashok Leyland and Nissan Motor Co., Ltd., today announced the legal formation of the three JV companies for the Light Commercial Vehicle (LCV) business in India for vehicle manufacturing, powertrain manufacturing and technology development. This follows the signing of the Master Co-Operation Agreement between the two companies in October 2007.

The shareholding structures of the three joint ventures are as under:

* Ashok Leyland Nissan Vehicles Pvt. Ltd., the vehicle manufacturing company will be owned 51% by Ashok Leyland and 49% by Nissan;

Project investment estimated at US$ 500 million

CHENNAI / TOKYO (October 29, 2007) – Hinduja Group flagship Ashok Leyland and Nissan Motor Co., Ltd., today signed a binding Master Co-Operation Agreement (MCA) for the formation of three joint venture companies supporting the Light Commercial Vehicle (LCV) business. The agreement was signed in Chennai today by Mr. R. Seshasayee, Managing Director of Ashok Leyland and Mr. Carlos Ghosn, President and CEO of Nissan Motor Co., Ltd.