Ashok Leyland, Nissan review plans, will scale back proposed investments

Ashok Leyland Ltd. and Nissan are reviewing their plans for the three joint ventures which they had agreed upon earlier, which would have entailed investments of about Rs 2,300 crore. These ALL-Nissan joint ventures were to be set up for the manufacture of LCVs, powertrains and technology R&D.

In keeping with the global economic downturn, ALL and Nissan wish to scale back their investments into the three JV companies. The two companies’ new plans will be finalised over the next few months, and the companies will do a complete rethink on what products they want to launch in the first phase.