Ashok Leyland bags orders for 1,400 ICVs from logistics start-up Procure Box
Hinduja flagship firm Ashok Leyland on Thursday said it has bagged orders for 1,400 intermediate commercial vehicles (ICVs) from a logistics start-up company, Procure Box.
The ICVs will be utilised by Procure Box for its fuel distribution business across 750 districts in the country. The order encompasses Ashok Leyland's most successful product - the Ecomet - and will be executed in the next five-six months, the company said in a regulatory filing.
The company, however, did not disclose the value of the order.
Ashok Leyland Chief Operating Officer Anuj Kathuria said, "With this order, our orderbook for ICVs has enhanced significantly...," adding that over the last few years, Ashok Leyland has made significant efforts to increase its market share in the ICV segment and the efforts have given rich dividends.
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Procure Box Founder and Chief Executive Officer Raman Kandhari said, "This order is a testimony of our commitment to offer the best services and thus create value for our customers".
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With the addition of 1,400 new Ashok Leyland ICVs, the logistics start-up and its associates will become the top fuel bowsing and gas cylinder logistics company in the industry, the filing added.