Ashok Leyland is one of the best selling commercial brands in the country and offers highly capable and reliable products in its portfolio. The brand is known to offer a number of new technologies and mechanically superior products and is now all set to enter the CNG truck segment in FY 2021-22 Q4. The rising fuel prices and a partial ban on the service years of diesel vehicles are some of the reasons that are pushing the buyers towards alternate fuels like CNG. The Ashok Leyland CNG trucks are expected to hit the showrooms later this year and here are all the details that you should about these upcoming CNG intermediate commercial vehicles.
As per the official confirmation, the brand will be launching two new products in its CNG line-up in Q4. These two new models will compete in the intermediate commercial vehicles segment and will give strong competition to the rivals. These vehicles will not only be powered by compressed natural gas, but in addition to this, can also be alternatively used on petrol. Furthermore, the brand is also planning to launch new products every quarter in order to expand its CNG lineup. Currently, the brand has around 20% market share in the intermediate commercial vehicle (ICV) segment. The Ashok Leyland BOSS LE and LX and the Ecomet Star are a few of the best selling trucks in the market today. It is further believed that the vehicles running on CNG offer more than 70% savings in terms of running costs and also emit 20% less emissions, thus helping in improving the environmental conditions.
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Ashok Leyland is also believed to be working on hydrogen-powered commercial vehicles that will not only run cleaner but will also provide better performance and range, thus making them practical and an opulent replacement to the ICE powered trucks. The brand is also open to bringing in private equity players to invest in EV business that gives us a clear idea about the brands future plans to explore the opportunities in the EV space. Mr Gopal Mahadevan, CFO & Whole Time Director, Ashok Leyland said that rising fuel prices make customers buy CNG powered vehicles. He further said Within ICV, CNG vehicles have seen significant growth in recent years. The arbitrage between CNG and diesel has widened further which is why people have started to invest more in CNG vehicles.
Brands like Tata Motors offer a more extensive CNG line-up and hold the majority of the market with their CNG portfolio ranging from 5-tonne to 16-tonne GVW in the ICW segment. The brand also has over eight models in the VE Commercial Vehicles segment.
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