Ashok Leyland, Nissan Motor sign three LCV JVs

Ashok Leyland and Nissan Motor announced a 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 follows:

• Ashok Leyland Nissan Vehicles Pvt Ltd, the vehicle manufacturing company will be owned 51 per cent by Ashok Leyland and 49 per cent by Nissan
• Nissan Ashok Leyland Powertrain Pvt Ltd, the powertrain manufacturing company will be owned 51 per cent by Nissan and 49 per cent by Ashok Leyland.
• Nissan Ashok Leyland Technologies Pvt Ltd, the technology development company will be owned by 50:50 by the two partners.