Ashok Leyland through its subsidiary Switch Mobility, the U.K. based EV producer of buses and vans announced its global expansion plans into India and its plan to create two subsidiary companies.
The first, Switch Mobility Automotive, is being formed to carry on the EV strategy in India, which forms part of its global entity. The second is OHM Global Mobility, which will focus on providing mobility as a Service offering.
Switch Mobility Automotive brings together Ashok Leyland's capabilities both from Optare UK and Ashok Leyland's EV Division. OHM Global Mobility is a solutions company being piloted in India with ambitious plans to roll out Mobility as a Service (eMaaS) globally. Together, Switch and OHM will provide a net carbon zero emission solution to India's exciting trend towards EV urban buses and LCVs.
Commenting on the announcement, Dheeraj Hinduja, Chairman, Ashok Leyland and Switch Mobility, said we see huge opportunities for growth through Switch's expansion in Indian and Global markets.
Switch Mobility is a technology-focused bus and light commercial vehicle company with the mission to enrich lives through green mobility.
The announcement was made after market hours yesterday, 7 April 2021. Shares of Ashok Leyland rose 3.78% to settle at Rs 116.75 yesterday.
Ashok Leyland, flagship of the Hinduja Group, is the second largest manufacturer of commercial vehicles in India, the fourth largest manufacturer of buses in the world, and the seventeenth largest manufacturer of trucks.
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