IFAD Autos

What IFAD Autos does

IFAD Autos PLC is a Bangladesh-based automotive assembler and distributor incorporated in 1988 as part of the IFAD Group (founded 1985). The company holds the exclusive sole distributor franchise for Ashok Leyland in Bangladesh, a relationship established in 1994, and operates an in-country assembling plant established in 2017. IFAD Autos manufactures, assembles, and sells commercial vehicles across four categories: buses (MiTR Minibus, B 1616 SUPER, 12M PRIME EX, EAGLE 180), pickups (PARTNER, DOST, PHOENIX, LEO), trucks (TUSKER and Taurus U series), and special vehicles (dump trucks, RMC mixers). The product line is built primarily on Ashok Leyland platforms and drivetrains with body-building done locally since 1995.

The business generates revenue through three principal streams: vehicle sales (hardware), after-sales service and genuine parts via the Leyparts brand, and lubricant manufacturing and distribution through the 2018 Gulf Oil International joint venture. Go-to-market is direct-sales led, executed through 24 offices and 22+ service centers across Bangladesh, complemented by annual sales conferences, regional product launches, and a sales inquiry-driven corporate website. Customer segments span fleet operators, government and institutional buyers (e.g., Bangladesh Road Transport Corporation, Dhaka Metropolitan Police), and small-to-medium business owners purchasing pickups and small cargo vehicles. Pricing is quote-based and not publicly disclosed.

The company is publicly listed on the Dhaka Stock Exchange following its 2015 IPO, is led by the founding Ahmed family (Chairman Iftekhar Ahmed Tipu, Managing Director Tanveer Ahmed, Directors Taskeen and Tashfeen Ahmed), and operates within a broader IFAD Group conglomerate that also spans food, agro, beverage, salt, IT, and industrial air compressors. The company holds strategic alliances with Ashok Leyland (core distribution), Gulf Oil International (lubricant JV), Apollo Tyres (tyres distribution), and ELGI Equipment (industrial air compressors), and has signed an agreement with Bangladesh Economic Zones Authority for expanded manufacturing capacity.

Name

IFAD Autos

Legal name

IFAD Autos PLC

Website

https://ifadautos.com

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

IFAD Autos PLC is a Bangladesh-based automotive assembler and exclusive distributor of Ashok Leyland vehicles, selling buses, trucks, pickups, and special vehicles through 24 offices and 22+ service centers nationwide.

Ownership category

akta.pro rank

Product category

Commercial Vehicle Manufacturing

NAICS

Automobile and Other Motor Vehicle Merchant Wholesalers (423110), Motor Vehicle Supplies and New Parts Merchant Wholesalers (42312), Motor Vehicle Manufacturing (3361), Tire and Tube Merchant Wholesalers (423130)

SIC

Wholesale-Motor Vehicles & Motor Vehicle Parts & Supplies (5010), Wholesale-Motor Vehicle Supplies & New Parts (5013)

akta.pro primary industry

Automotive Aftermarket Parts Distribution (Light-Duty) (TLAKAOAA)

akta.pro secondary industries

Heavy-duty truck, trailer & commercial vehicle parts distribution (CRAOANAJ), Tires, wheels & related supplies distribution (CRAOANAD), Mechanical replacement parts distribution (engine, drivetrain, steering, suspension, brakes) (CRAOANAA)

Keywords

• Commercial vehicle assembly
• Ashok Leyland distribution
• Automobile manufacturing
• Genuine auto parts
• Vehicle service centers

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Vehicle Sales: Sale of assembled and distributed vehicles including buses, trucks, pickups, and special vehicles under the Ashok Leyland brand and own brand
2. After-sales Service and Parts: Service center operations and Leyparts distribution for genuine replacement parts
3. Lubricant Manufacturing and Distribution: Joint venture with Gulf Oil International for manufacturing and distributing lubricants in Bangladesh and neighboring countries

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

IFAD Autos PLC assembles and distributes a comprehensive range of commercial vehicles—buses, trucks, pickups, and special vehicles—under the Ashok Leyland brand as the sole distributor in Bangladesh. The company supports its vehicle sales with 22+ service centers, a genuine parts brand (Leyparts), customer-friendly financing, and a Gulf Oil lubricants joint venture.

Product overview

IFAD Autos PLC is a Bangladeshi automobile assembler and distributor offering a comprehensive range of commercial vehicles across four main categories: Buses (MiTR Minibus, B 1616 SUPER, 12M PRIME EX, EAGLE 180), Pickups (PARTNER 1.5/3 Ton, DOST STRONG, DOST PLUS, PHOENIX, LEO), Trucks (TUSKER SUPER, TUSKER JUNIOR variants, Taurus U series), and Special Vehicles (dump trucks, RMC trucks). The company serves as the sole distributor for Ashok Leyland vehicles in Bangladesh and operates an assembling plant established in 2017. Supporting services include Leyparts (genuine parts), Sales Centers, and Service Centers across 24 offices, with a Gulf Oil joint venture for lubricant manufacturing and distribution.

Differentiator

Problem solved

Functional benefit

Brands

• LEYPARTS: Genuine auto parts and accessories brand for IFAD vehicles
• MiTR
• Phoenix
• LEO

Products and services

• MiTR Minibus Minibus powered by ZD30 118 HP 4-cylinder diesel engine with turbocharger and intercooler, featuring factory-fitted engine-driven AC system, parabolic suspension, and digital instrumental cluster with 5-year/4 lakh km extended warranty.
• B 1616 SUPER Bus Bus with H-series 160 HP 5.7L diesel engine, 36 ft body with 51+D (2x2) seating configuration, ZF 6-forward speed overdrive gearbox, and rear-routed silencer with exhaust brake.
• 12M PRIME EX Bus Bus with H-series 180 HP 5.7L diesel engine featuring Weveller-Air suspension with anti-roll bar, anti-lock braking system (ABS), and maintenance-free electro-magnetic retarder.
• EAGLE 180 Bus Bus with H-series 180 HP 5.7L diesel engine with turbocharger and intercooler, featuring anti-roll bars at front and rear for safety.
• TUSKER SUPER 1616il/1 Truck Truck with ladder-type rigid chassis, 20 ft loading span, tiltable sleeper cabin, ZF 6-forward speed overdrive gearbox, Meritor drive-axle, and power steering.
• TUSKER SUPER 1616il/2 (Covered Van) Truck Covered van truck with ladder-type rigid chassis and 24 ft loading span, offering higher pickup with maximum loading capacity.
• Taurus U 3118il Super Truck Heavy-duty truck with pusher lift axle, 11-inch ladder-type rigid chassis, and anti-lock braking system (ABS), suitable for bulk carriers, covered vans, and tankers.
• TUSKER JUNIOR 1214il R Truck Truck with 120HP 4-cylinder 3.8L BS3 turbocharged intercooler engine, 18.6 ft loading span, and 6-speed overdrive gearbox.
• TUSKER SUPER 1618il 10.5 CBM Dump Truck Dump truck with 180HP 6-cylinder 5.7L BS3 turbocharged intercooler engine, 16 CBM bucket capacity, and 6x4 wheel drive with differential lock for offroad use.
• ECOMET 1012il 4.5 CBM Dump Truck Dump truck with 120HP 4-cylinder 3.8L BS3 turbocharged intercooler engine, heavy-duty rear axle, differential, and tipper body with underbody single hydraulic RAM.
• TUSKER JUNIOR 1214il S/C Truck Truck with sleeper cabin and 19.6 ft loading span for long-haul operations.
• TUSKER JUNIOR 1212il S Truck Truck with 17 ft loading span and factory-fitted flitch for cargo handling.
• TUSKER JUNIOR 1012il S Truck Compact truck with 14 ft loading span for urban and regional delivery.
• TAURUS U 2518 RMC Truck RMC (Ready Mix Concrete) truck with factory-built cargo cabin, superior fuel efficiency, and safety features including ELR seat belt and full air dual line S-Cam brake.
• PARTNER 3 TON Pickup Pickup truck with 118HP 4-cylinder 3L turbocharged intercooler engine, 14 ft robust load body, 3000 kg payload capacity, and 9+ km/liter mileage.
• PARTNER 1.5 TON (12 Feet) Pickup Compact pickup with 118HP 4-cylinder 3L turbocharged intercooler engine, 12 ft load body, 24-hour Dhaka city entry, and 1485 kg payload capacity.
• PARTNER 3 TON (17 Feet) Pickup Extended pickup with 140HP 4-cylinder 3L turbocharged intercooler engine, 17 ft load body, air braking system, and 3470 kg payload capacity.
• DOST STRONG Pickup Light pickup with 57HP 3-cylinder 1.5L turbocharged engine, 8.2 ft load body, and 1250 kg payload capacity offering 17+ km/liter mileage.
• DOST PLUS Pickup Light pickup with 60HP 3-cylinder 1.5L turbocharged engine, 9.3 ft robust load body, and 1465 kg payload capacity.
• PHOENIX Pickup Pickup with 80HP 3-cylinder 1.5L turbocharged intercooler engine, 9.8 ft load body, digital dashboard, and 1490 kg payload capacity with 12+ km/liter mileage.
• LEO Pickup Compact pickup with Japanese technology 45HP 3-cylinder 1.5L turbocharged engine, 8.2 ft load body, and 1015 kg payload capacity.
• TUSKER JUNIOR 1012il L Truck Light truck with standard loading configuration for regional cargo transport.
• TUSKER JUNIOR 1212il L Truck Medium truck with enhanced loading capacity for intercity cargo transport.
• TUSKER JUNIOR 1214il SC (24 Feet) Truck Extended truck with slipper cabin, 24 ft loading span, and 120HP 4-cylinder 3.8L BS3 diesel engine with full air brakes and dual line system.
• Leyparts Genuine Parts Distribution Distribution of genuine replacement parts and accessories under the Leyparts brand for IFAD-assembled vehicles, supporting fleet maintenance and uptime.
• Vehicle Service Centers After-sales service and maintenance across 22+ service centers nationwide, including the Aminbazar Service Center inaugurated in 2023.
• Gulf Oil Lubricants (Joint Venture) Lubricant manufacturing and distribution through Gulf Oil Bangladesh, a joint venture with Gulf Oil International, supplying lubricants to commercial vehicle operators in Bangladesh.

Quantifiable outcome

• Company sales expanded ten-fold over previous ten years under Taskeen Ahmed's leadership
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered major, strategic and core.

• Apollo TyresmajorChannel Partner/ Reseller/ Distributor · 1 January 2022Apollo Tyres, a leading tyre manufacturer with annual revenues of US$ 2.8 billion, established a partnership with IFAD Group for distribution in Bangladesh. Apollo Tyres opened an office in Dhaka with sales and service teams to serve the growing customer base. Taskeen Ahmed, Deputy Managing Director, IFAD Group stated that together they have served the market with good products and an excellent distribution network. Apollo launched Apollo Apterra AT2 for SUV segment and Apollo Endutrax MA for CV segment in Bangladesh.
• Bangladesh Economic Zones Authority (BEZA)strategicStrategic or Co-development Partner · 1 January 2021IFAD Autos signed an agreement with BEZA for investment in economic zones, indicating expansion of manufacturing capabilities in Bangladesh.
• Gulf Oil International LimitedcoreStrategic or Co-development Partner · 1 January 2018Gulf Oil International Limited signed a joint venture agreement with IFAD Autos Ltd for manufacturing and distribution of lubricants in Bangladesh. The joint venture plans to set up a manufacturing/blending plant to serve Bangladesh and neighboring countries. Gulf Oil Bangladesh, a subsidiary of Gulf Oil International Group, aims to become one of the top three market players in Bangladesh within four years. Iftekhar Ahmed Tipu (Chairman, IFAD Autos) and Frank Rutten (Vice-Chairman, Gulf Oil International UK Limited) signed the agreement in Dhaka with Commerce Minister Tofail Ahmed present.
• Gulf Oil BangladeshcoreChannel Partner/ Reseller/ Distributor · 1 January 2018Gulf Oil Bangladesh is a subsidiary company of Gulf Oil International Group. Under the joint venture with IFAD Autos, Gulf Oil Bangladesh will manufacture and distribute lubricants in Bangladesh. The partnership aims to establish Gulf as one of the top three lubricant brands in Bangladesh.
• ELGI Equipment of IndiamajorChannel Partner/ Reseller/ Distributor · 1 January 2002IFAD Enterprises Ltd, part of IFAD Group, holds sole dealership of ELGI Equipment of India for Industrial Grade Air Compressors in Bangladesh. Over 2,500 installations across the nation have been servicing clients since 2002. The business dominates Bangladesh's Industrial Air Compressor Sales and Service coverage.
• Ashok LeylandcoreChannel Partner/ Reseller/ Distributor · 1 January 1994Ashok Leyland, a Hinduja Group company and India's leading commercial vehicle manufacturer (world's third-largest bus manufacturer), appointed IFAD Autos as sole distributor in Bangladesh. The partnership includes distribution of buses, trucks, pickups, and light cargo vehicles. IFAD Autos achieved status as Ashok Leyland's highest importer from 30 countries in 2014. Ashok Leyland provides the bulk of trucks, buses, and light cargo vehicles sold in Bangladesh through IFAD's extensive distribution network.

Scale indicators6 records

Recent moves8 records

Expansion highlights5 records

Regional players

• SML Isuzu: Indian commercial vehicle manufacturer specializing in light and medium commercial vehicles, buses, and ambulances. Comparable product portfolio to IFAD's pickup and LCV offerings in the South Asian CV market.
• Force Motors: Indian manufacturer of commercial vehicles including LCVs, SUVs, and ambulances. Comparable to IFAD Autos in the light commercial vehicle and utility vehicle space, with similar product positioning in emerging markets.
• Eicher Motors: Parent of VECV (Volvo Eicher Commercial Vehicles) and Royal Enfield. VECV competes in the Indian medium and heavy commercial vehicle market with similar bus and truck product categories to IFAD's Ashok Leyland lineup.
• Palmal Group: Bangladesh conglomerate with automotive interests including vehicle assembly and distribution. Operates in the same Bangladesh commercial vehicle market as IFAD Autos, serving overlapping customer segments.

Broad incumbents

• Tata Motors: India's largest commercial vehicle manufacturer and a major global player. Competes indirectly with IFAD Autos' Ashok Leyland offerings in the South Asian CV market and represents a potential alternative principal for the Bangladesh market.
• Ashok Leyland: India's leading commercial vehicle manufacturer and IFAD Autos' principal/partner. World's third-largest bus manufacturer and a Hinduja Group company. Comparable as the technology source and strategic anchor for IFAD's commercial vehicle lineup.
• Mahindra & Mahindra: Indian conglomerate with a strong commercial vehicle and pickup truck business (including Bolero, Pickup, and LCV lines). Comparable in product mix of pickups and light commercial vehicles that overlap with IFAD's PARTNER and DOST product lines.

Direct peers

• Navana Group: Bangladesh conglomerate with vehicle distribution and assembly operations including partnership with global OEMs. Directly comparable to IFAD Autos as a multi-brand vehicle distributor and assembler serving the Bangladesh market with similar customer base.
• ACI Motors: Bangladesh-based vehicle assembler and distributor, part of ACI Group. Competes directly with IFAD Autos in the Bangladesh commercial vehicle and passenger car assembly/distribution market, serving similar fleet operators and government buyers.
• Rancon Motors: Bangladesh-based vehicle assembler and part of Rancon Industrial Park. Operates in the same vehicle assembly and distribution space as IFAD Autos, serving the domestic Bangladesh market with similar customer segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/ifad-group
• Facebookfacebook.com/ifadautos

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IFAD Autos