"We are pleased to be moving forward into a new phase of our business with Ashok Leyland," said Philippe Guérin-Boutaud, Nissan corporate vice president in charge of the Global LCV Business Unit.

"Nissan is committed to India and has invested substantially in manufacturing, research and development and sales networks in the country. We are on track to becoming a major player in the Indian market. Under the licensing arrangement with Ashok Leyland, Indian commercial vehicle customers can continue to benefit from Nissan's engineering, with servicing and parts availability also ensured."

Vinod Dasari, Ashok Leyland MD, said: "We have decided to acquire Nissan's stake in the three joint venture companies, and this will help focus our efforts to concentrate on our core business initiatives and our customers. We will continue our relationship with Nissan under the new arrangement".

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