Ashok Leyland Joint Venture with US-based John Deere

Ashok Leyland Ltd, and the US-based agriculture and forest equipment major John Deere have set up a 50:50 Joint Venture(JV) to manufacture and market construction equipment. "The detailed business plans are being worked out. It will be a greenfield project and the location is not yet finalised," Ashok Leyland MD R. Seshasayee told reporters here Tuesday.

They have not given any details about the financial particulars about the joint venture.

Ashok Leyland John Deere Construction Equipment Ltd, is planning to commence production by 2010. First of all they are going to manufacture loaders such as backhoe loaders and four-wheel drive loaders will be rolled out and later other products like dozers will be manufactured.The vehicles will be jointly branded as Ashok Leyland-John Deere.