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Business News/ Companies / News/  Ashok Leyland to carve out two new units to strengthen green transport solutions
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Ashok Leyland to carve out two new units to strengthen green transport solutions

The first unit -- Switch Mobility Automotive Ltd -- is being formed to carry on the electric vehicle strategy in India and forms part of its global entity

Ashok Leyland’s shares closed 3.89% down at Rs148.40 apiece on BSE. Photo: Pradeep Gaur/MintPremium
Ashok Leyland’s shares closed 3.89% down at Rs148.40 apiece on BSE. Photo: Pradeep Gaur/Mint

NEW DELHI : Commercial vehicles major Ashok Leyland on Wednesday said it has decided to form two new subsidiaries as part of its plans to strengthen green transport solutions.

The company through its subsidiary Switch Mobility Ltd, the UK-based electric vehicle producer of buses and vans, is creating two units, Ashok Leyland said in a statement.

The first unit -- Switch Mobility Automotive Ltd -- is being formed to carry on the electric vehicle strategy in India and forms part of its global entity.

The second subsidiary -- OHM Global Mobility Pvt Ltd -- will focus on providing mobility as a service offering, it said.

Switch Mobility Automotive Ltd brings together the company's capabilities both from Optare UK and Ashok Leyland's EV Division, it noted.

"Switch Mobility Automotive Ltd will help us fulfil our aspiration of zero carbon emission transportation.

"With a strong presence and proven expertise in the commercial vehicle market in India and the experience of operating a large number of electric vehicles successfully in India and the UK, we see huge opportunities for growth through Switch's expansion in Indian and global markets," Ashok Leyland Chairman Dheeraj Hinduja said.

Ashok Leyland MD and CEO Vipin Sondhi said creating Switch Mobility and OHM Global would give the company the ability to drive the sustainability agenda which Ashok Leyland is passionate about.

"It will combine our consumer centric approach with the expertise in technology that the new entities will bring to the table," he added.

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Published: 07 Apr 2021, 10:53 PM IST
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