India markets close in 1 hour 43 minutes
  • BSE SENSEX

    47,942.87
    -137.80 (-0.29%)
     
  • Nifty 50

    14,363.30
    -42.85 (-0.30%)
     
  • USD/INR

    75.0410
    -0.0690 (-0.09%)
     
  • Dow

    33,815.90
    -321.41 (-0.94%)
     
  • Nasdaq

    13,818.41
    -131.81 (-0.94%)
     
  • BTC-INR

    3,619,143.50
    -453,382.50 (-11.13%)
     
  • CMC Crypto 200

    1,099.12
    -143.93 (-11.58%)
     
  • Hang Seng

    29,054.79
    +299.45 (+1.04%)
     
  • Nikkei

    29,020.63
    -167.54 (-0.57%)
     
  • EUR/INR

    90.3809
    +0.1063 (+0.12%)
     
  • GBP/INR

    104.0548
    +0.1180 (+0.11%)
     
  • AED/INR

    20.3540
    -0.0510 (-0.25%)
     
  • INR/JPY

    1.4370
    +0.0024 (+0.17%)
     
  • SGD/INR

    56.4610
    -0.0710 (-0.13%)
     

Ashok Leyland strengthens its footprint in green transport solutions

·1-min read

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.



Source: Capitalmarket.com