Nissan to sell stake in three JVs to Ashok Leyland

Nissan Motor and Ashok Leyland finally end their eight-year-old partnership. In a joint statement, the two firms said that Nissan has agreed to sell all of its shares to Ashok Leyland in three joint-venture companies.

Nissan and Ashok Leyland joined forces in May 2008. This resulted in three joint ventures: Ashok Leyland Nissan Vehicles Ltd (ALNVL), Nissan Ashok Leyland Powertrain Ltd (NALPT) and Nissan Ashok Leyland Technologies Ltd (NALT). While ALNVL manufactured commercial vehicles, NALT developed technology and NALPT made...