In a significant move within the automotive industry, Ashok Leyland, India’s leading commercial vehicle manufacturer, has announced an increased investment in Optare Plc, a U.K.-based subsidiary known for its manufacture and sale of commercial vehicles, particularly in the electric vehicle (EV) sector. Through a second tranche investment of GBP 50,679,500 (approximately Rs. 536.73 Crores), Ashok […]
In a major move to strengthen its electric vehicle (EV) division, Ashok Leyland’s Board of Directors has approved a significant investment of Rs 1200 crore into Switch Mobility. This equity infusion, routed through holding company Optare PLC UK, is earmarked for the expansion of product portfolio, enhancement of research and development, and operational growth across […]
Ashok Leyland said that its subsidiary — Switch Mobility Ltd, an electrified commercial vehicles company, has secured an investment of $18 million from Dana Incorporated, a US-based provider of drivetrain and electrified propulsion systems. Dana Incorporated will get a minority stake in Switch Mobility. It will also become a preferred supplier of electric drivetrain components […]