Significant investment underscores Ashok Leyland's resolve to boostswitch mobility, strengthening electric vehicle presence
Switch Mobility, a part of the larger Switch Group of companies, offers an array of electric buses that cater to different market segments and price points. The business focuses on electric buses (e-buses) and electric light commercial vehicles (e-LCVs) to serve global markets efficiently.
Switch Mobility operates over 800 buses in India and the UK, with an order book exceeding 1,200. The company introduced India's only double-decker e-bus last year, followed by the launch of its e-LCVs in September this year. The company has secured an initial agreement for over 13,000 e-LCVs, with deliveries set to commence in the fourth quarter of this fiscal year.
Ashok Leyland's expanding footprint has highlighted the growing market for electric vehicles, driven by the pursuit of carbon neutrality and government support. The latest investment call emphasises the company's commitment to invest in product development and expand operations to strengthen its presence in this burgeoning sector.
India and European markets are crucial growth centres for electric trucks and buses and will be marked by faster customer adoption of e-LCVs in the coming year.
Regarding the potential for a strategic partner, Hinduja clarified that Ashok Leyland had decided to continue its growth trajectory independently, as it believed it was in the company's best interest.