Ashok Leyland’s UK Subsidiary Acquires Indian EV Subsidiary
Hinduja group’s commercial vehicle major Ashok Leyland Ltd said its UK subsidiary Switch Mobility Ltd has acquired the entire stakes in its Indian subsidiary Switch Mobility Automotive Ltd.
Switch Mobility Automotive has thus become a step-down subsidiary of Ashok Leyland.
Switch Mobility Automotive was incorporated to carry on the business of manufacture and sale of electric vehicles.
Recently Siemens Ltd and Switch Mobility Automotive signed an MoU to enter the electric commercial vehicles segment.
While Switch Mobility Automotive would bring in its electric commercial vehicles into India, Siemens would provide the charging infrastructure technology and charging infrastructure management software solution to enhance the energy-efficient operations of the chargers.