Nissan to sell stake in three JVs to Ashok Leyland
These JVs will become wholly owned Ashok Leyland subsidiaries, upon the regulatory authorities' approvals
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...