Ashok Leyland banks on the Phoenix to expand biz in India, global market

Commercial vehicles (CVs) are one of the industries to be hit hard by the economic slowdown but Chennai-headquartered Ashok Leyland Ltd (ALL) is banking on a platform named after the mythological bird that rises from the ashes, the Phoenix, to expand its presence in India and the world markets and pull it out of losses.  This new light commercial vehicle (LCV) platform literally represents a second lease of life after the low-profile Hinduja-owned CV maker ended its underperforming eight-year joint venture with Japan’s Nissan Motors in 2016. With Phoenix, the platform that ALL.....

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