IFAD Autos is one of the leading automobile organizations in Bangladesh, and it has a strong growth performance in the commercial vehicle market. As a progressive automobile manufacturer, IFAD Autos deals with light, medium, and heavy truck chassis, different types of bus chassis, AC and deluxe buses (completely built-up), and special vehicles like dump trucks, water tankers, prime movers, etc.
In 1985, the group established IFAD Autos as its pioneering company to serve the transportation needs of Bangladesh. IFAD Autos was incorporated as a private limited company and started its business to sell commercial vehicles in the year of 1988; in 1994, it took up the sole dealership from Ashok Leyland of India to provide a massive range of commercial vehicles, including trucks, buses, and special application vehicles. Ever since, the company has supplied over 40,000 vehicles in the country with an established network of showrooms, dealers, zonal offices, service centers and authorized service stations.
IFAD Autos has been a publicly listed company since January 2015. Currently, the company is producing commercial vehicles in technical collaboration with Ashok Leyland, having built the country's largest auto progressive manufacturing plant with a capacity to roll out 10,000 units annually. IFAD Autos has been the sole supplier of Double Decker buses to the Government of Bangladesh since 1987. In addition, the company has supplied a range of buses to the government under every LOC program given by India since independence.
“Ashok Leyland” is India's second-largest commercial vehicle manufacturer and the third-largest bus manufacturer globally. IFAD Autos imports different models of Ashok Leyland vehicles in CBU & CKD, and spares and assembles them locally to promote in Bangladesh. The Central Bank of Bangladesh declared IFAD Autos PLC. one of the top ten largest and most creditworthy borrowers in the nation. In 2018, IFAD Autos PLC. was awarded "The World's Greatest Brand Award" by AsiaOne Magazine, vetted by Price Waterhouse Coopers.
IFAD Autos PLC. and “Gulf Oil International” entered a Joint Venture to serve the Bangladesh market as Gulf Oil Bangladesh in 2018. A blending plant is currently underway at Mirsharai Economic Zone, which will also serve the local demand and regional export market. With a 100-year heritage, millions of customers globally recognize and trust the Gulf brand for fuel and lubricant products. Gulf's instantly recognizable orange disc is synonymous with high quality, innovation, and technical excellence worldwide.