The Commercial Vehicle Show - logo image

18 – 20 APRIL 2023 • NEC • BIRMINGHAM • UK

The Commercial Vehicle Show - logo image
18 - 20 APRIL 2023 • NEC • BIRMINGHAM • UK

Ashok takes 26% stake in Optare

Ashok Leyland Ltd, the Indian subsidiary of the London-based Hinduja Group says that it has agreed with Optare plc to take a 26% in the UK bus maker.

The deal is worth some $7.5m (£4.8m). It will give Ashok access to Optare's technology, including its successful range of mid- and full- size city buses. Optare will get access to Ashok's lower-cost suppliers and new export markets. The two firms will work together on product development.

Optare has an £80m turnover and an enviable reputation for low carbon developments; its new electric bus has already won several orders across Europe. Ashok, itself a major bus maker, will put two directors on Optare's Board. It claims that its products already carry over 60 million passengers a day, more people than the entire Indian rail network.

The deal brings together two bus-making firms that trace their roots to the Leyland brand, once the largest bus maker in the world.

More from Martin Hayes on +44 (0)2 074 948 050 or mhayes@automotivepr.com

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