Ashok Leyland has increased its stake in its loss-making UK subsidiary Optare Plc by 23.20% to 98.31%. The UK arm is one of the leading manufacturers of single-decker, double-decker buses and electric buses for Britain and other markets.
Optare would help the company to access technology including a modern range of mid-size and full-size city buses which can appeal to both domestic and global markets.
Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company's products include buses, trucks, engines, defense and special vehicles.