TVS Trucks is engaged in the automotive dealership business in India

Ashok Leyland Ltd has announced that it has acquired nearly 50% of TVS Trucks and Buses Pvt Ltd for a sum of INR 25 crore. TVS Trucks is a company that deals in the automotive dealership business in India and was established on June 13, 2023. Ashok Leyland has invested INR 24.95 crore in TVS Trucks and Buses Pvt Ltd through equity shares. Following the allotment by the Board of Directors of TVS Trucks on Friday, Ashok Leyland’s shareholding in TVS Trucks now stands at 49.9%, thereby making TVS Trucks an associate company. The acquisition is expected to strengthen Ashok Leyland’s automotive business.