launch various vehicles in the Indian market, with many of these models continuing to this day with numerous upgrades over the years. Under Iveco and Hinduja partnership In 1987, the overseas holding by Land Rover Leyland International Holdings Limited (LRLIH) was taken over by a joint venture between the Hinduja Group, the Non-Resident Indian transnational group and Iveco, part of the Fiat Group. Hinduja Group In 2007, the Hinduja Group bought out Iveco's indirect stake in Ashok Leyland. The promoter shareholding now stands at 51%. Today the company is the flagship of the Hinduja Group, a British-based and Indian originated trans-national conglomerate. Ashok Leyland launched India's first electric bus and Euro 6 compliant truck in 2016. In June 2020, Ashok Leyland launched its new range of modular trucks, AVTR. In September 2020, Ashok Leyland launched the Bada Dost based on its indigenously developed LCV platform called Phoenix. Partnerships Hino Motors During the early 1980s Ashok Leyland entered into a collaboration with Japanese company Hino Motors from whom technology for the H-series engines was sourced. Many indigenous versions of the H-series engine were developed with 4 and 6 cylinders, and also conforming to BS2, BS3 & BS4 emission standards in India. Most current models of Ashok Leyland come with H-series engines. Japan entered into a Mutual Cooperation Agreement (MCA) on 27 November 2017 renewing their cooperative agreement that had started in 1986. According to the agreement Ashok Leyland will use Hino's engine technology for its Euro 6 development and will support in the development of Hino's engine parts purchasing in India for global operation. Rosoboronexport & ELCOM Ashok Leyland Defence Systems (ALDS), Russia's Rosoboronexport and ELCOM Group have signed a cooperation agreement in defence business to provide tracked vehicles to Indian Armed Forces. The agreement was signed on the side lines of the International Military Technical Forum Army – 2017 held at Kubinka, near Moscow, on 25 August 2017. IIT Madras Ashok Leyland and Indian Institute of Technology Madras (IIT Madras) signed a memorandum of understanding, on 19 August 2017, for Ashok Leyland to sponsor the Centre of Battery Engineering (CoBE) at IIT Madras. As part of the agreement Ashok Leyland partnered with IIT Madras to carry out research and development (R&D) activities for strengthening battery engineering and related sub-parts, especially for electric vehicles. Sun Mobility On 18 July 2017 Ashok Leyland announced the formation of an alliance with SUN Mobility,