Ashok Leyland buy for 129.

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Ashok Leyland to invest up to USD 200 million in EVs

Hinduja group flagship firm Ashok Leyland will invest up to USD 200 million (nearly Rs 1,500 crore) in its electric vehicles journey through its UK-based arm Switch Mobility in the next few years, according to company officials.

Switch Mobility, which will play in the commercial e-mobility space globally for the group through next-generation electric bus and light commercial vehicles, will launch an electric light commercial vehicle (eLCV) later this year in India.

Ashok Leyland is banking on Switch Mobility to play a crucial role to achieve its ambition of being in the top ten players globally in the commercial vehicles segment through the latter's electric commercial vehicles, which would allow it to serve markets developed like the US, Europe and Japan.
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