The companies said they are looking at creating an integrated ecosystem by deploying Ashok Leyland’s electric vehicles and supporting them with smart batteries.
Hero Moto-Corp declared an interim dividend of Rs 55 per share and final dividend of Rs 30 per share, taking total dividend up to Rs 85 per share in 2016-17.
The transaction would be EPS accretive to the shareholders of Pricol and the profitability is expected to further improve upon integration of the business with Pricol.
The company has grown volumes by 15% in the first six months of the year and expects the pace to triple in the second half.
"We are quite confident that we will go to about 2,000 cars this year and further grow for the next few years. Of course, we have to work hard to achieve that."
The V90 will be followed by the launch of XC60 later this year.
Under the new tax regime, hybrid vehicles are on the same slab as luxury cars at 28 per cent GST plus 15 per cent cess.
Maruti Suzuki, Ford, Honda Cars, Tata Motors, Mahindra, Renault, Hero MotoCorp, Honda, TVS Motor, India Yamaha, Suzuki, Royal Enfield have all rationalised prices since the implementation of GST.
Ex-showroom prices of the company's products have been reduced by an average of 3 per cent, depending on city and model specification, Nissan Motor India said in a statement.
If state governments start raising local levies, the price benefits coming in from GST for the consumer lessen or get nullified, automakers say.
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