Stepping up its research and development investments, leading truck and bus maker Ashok Leyland plans to double the headcount in the division to over 500 people in the next 12-18 months.
The company would also acquire about 50-55 acres of land for the division based in Chennai, according to a company official.
"We now have 250 employees in the R&D division. This will be doubled to over 500 in the next 12-18 months," the official said.
The company, which had invested over Rs 40 crore (Rs 400 million) in R&D in 2003-04, has big investment plans for the division in the next 2-3 years too.
"The investments for R&D would be quadrupled in the next two to three years," he said.
The R&D division would also be utilised for Ashok Leyland's subsidiaries like Ashley Transport Services, which is into freight management intermediary service.
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