Ashok Leyland Acquires Switch Mobility Automotive, an Electric Vehicles Manufacturer

News Date 15 Jun 2021

Ashok Leyland Acquires Switch Mobility Automotive, an Electric Vehicles Manufacturer

Being the promoter of Switch Mobility Ltd, UK, Ashok Leyland said it was interested in acquiring the unit. 

On Tuesday, CVs major Ashok Leyland said its subsidiary Switch Mobility has entirely acquired electric vehicles producer Switch Mobility Automotive Ltd, India.

Ashok Leyland said in a regulatory filing, "Switch Mobility Ltd, UK, a subsidiary of the group, acquired the complete shareholding in Switch Mobility Automotive Ltd, India on June 14, 2021."

Switch Mobility Automotive Ltd, India, has become a step-down subsidiary of the group, it added.

Being the promoter of Switch Mobility Ltd, UK, Ashok Leyland was interested in the unit being acquired. 

The investment in the ownership shares of Switch Mobility Automotive Ltd is at arm's distance, the company added.

Switch Mobility Automotive Ltd was organised to carry on the industry of production and selling electric vehicles.

Hinduja group's flagship Ashok Leyland produces trucks, buses, light commercial vehicles, heavy commercial vehicles and defence vehicles.
 

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