'Some slowdown likely during elections, confident of continued growth'

India's commercial vehicle industry (CV) is "very strong" and will continue to grow even if there is "some slowdown" in an election year, says DHEERAJ HINDUJA, executive chairman of Ashok Leyland, which achieved a record volume in CV production in the first nine months of FY24. In a video interview with Shine Jacob, the businessman spoke about the company's target of being among the top 10 CV makers in the world and external fundraising plans for Switch Mobility, its electric mobility subsidiary. Edited excerpts:

- RAGHU MOHAN

The commercial vehicle industry slowed down in FY22 and stayed so well into early FY23. With election season coming in, do you think FY25 will be difficult?

We feel that some slowdown may happen during the election time, but on the ground, it (the industry) is very strong. The economy is set to grow firmly as well. As a result, we see our segment, which is closely tied together, will continue to grow. We are actually quite confident of continued growth in the segment.

In terms of product launches, that is an ongoing thing. With AVTR (a truck model) we have the possibility of being a modular product to have one preconfigured with many new applications and the focus on alternate fuel as well.

You saw two in the recent Bharat Mobility exhibition. We are looking at other areas as well.

Are you concerned about geopolitical tensions affecting your overseas business and exports?