Ashok Leyland is on the good roads today morning. From its close of Rs.173.15, the stock opened at Rs.174.70 and went up to an intraday high at Rs.177.25, up 2.5%. Its 52-week high is at Rs.191.45.

The company announced yesterday that it has laid the foundation stone for setting up a new integrated commercial vehicle plant focused on green mobility in Uttar Pradesh.

The greenfield manufacturing facility will be spread over 70 acres, with latest in manufacturing technology.

It will be the company’s most modern and green factory worldwide. The primary focus shall be on production of electric buses, while also having capability to produce other vehicles powered by existing and other emerging alternate fuels.

Once operational, the plant will initially have the capacity to produce 2500 vehicles per year. Ashok Leyland plans to expand this capacity to 5000 vehicles annually over the next decade, anticipating the growing demand for electric and other types of vehicles in the coming years.

This facility will be Ashok Leyland's seventh vehicle plant in the country.