New Delhi: Hinduja Group firm Ashok Leyland on Friday said it has bagged a tender in the defence tracked vehicle space, marking its foray into the niche segment.
"As per the scope of work, the company will collaborate with Combat Vehicles Research and Development Establishment (CVRDE), Chennai, for manufacture, assembly and testing of light weight clutch for the design and development of weight optimised 1500 hp automatic transmission for main battle tanks," Ashok Leyland said in a statement.
Ashok Leyland Head - Defence Amandeep Singh said, as a part of the company's strategy to expand its business scope.. it has been working on tracked vehicles.
"With this win, we mark yet another milestone where we start working on the tracked vehicles that our soldiers use. We see huge potential in repowering and upgrading of existing BMPs/Tanks of the Indian Army," he added.
He said the tracked combat vehicle opportunity also exists in several other countries which use Russian made combat vehicles.
Shares of the company were trading 0.11 per cent up at Rs 132.25 apiece on BSE....