Ashok Leyland, India’s leading commercial vehicle manufacturer and flagship of the Hinduja Group, elaborated on its future-readiness by sharing details of its latest strategic initiative - Switch Mobility, UK (Switch Mobility). The management engaged with key investors from India and London to showcase the growth opportunity and the crucial role Switch Mobility will play in shaping the commercial eMobility space, globally.
Switch Mobility, the next-generation electric bus and light commercial vehicle company, and subsidiary of Ashok Leyland, had recently announced strategic steps to further solidify its progress towards developing net zero carbon mobility. Andrew Palmer has been appointed as Executive Vice Chairman & CEO and other key leadership positions were announced. Former Goldman Sachs and JP Morgan banker and senior lawyer, Miranda Brawn, and auto industry veteran, J M Alapont, were recently inducted to the Board.
In April, Switch Mobility had announced technological collaborations with various partners, including Siemens, to deliver e-Mobility solutions that offer the lowest Total Cost of Ownership for CV customers. As part of its rampup, Switch Mobility has already signed customer agreements and LOI’s with leading logistic and ecommerce operators.
Dheeraj Hinduja, Chairman, Ashok Leyland & Switch Mobility, said, "The Mobility space is experiencing huge disruption, with e-Mobility and digital playing a crucial role. We have a very aggressive plan to be at the forefront of the Electric vehicle transition in Buses and Light vehicles. We already have over 280 Electric buses on the road in India and UK. Many new products are under development and we will be in a unique position of offering both Value and Premium Products for Global markets. This we strongly believe will propel us in our journey to achieve our Vision to be amongst the Top 10 Commercial Vehicle Manufacturers in the world."
Adding on, Vipin Sondhi, MD & CEO, Ashok Leyland, said, "These new initiatives give us the ability to drive the Sustainability agenda which Ashok Leyland is passionate about. As leaders, we need to create sustainable solutions that are simple, practical and make good business sense to our customers. Switch Mobility with its strength in net zero carbon technologies combined with Ashok Leyland’s expertise in the mobility space, will lead this change and enable us to fulfil our aspiration of net zero carbon mobility."
Further elaborating, Andrew Palmer, Executive Vice Chairman and CEO of Switch Mobility, UK, commented, "We already have a head start in the e-Mobility space, with our vehicles already clocking millions of miles in service. We want to increase our reach further and work with different stakeholders to encourage the faster adoption of net zero carbon mobility. With key leadership positions being filled, we are raring to go and are ready to transform the transport mobility space. Technology and innovation will continue to be pivotal in realising our aspirations in the e-bus and e-truck space."
Shares of the company gained Rs 3.75, or 3.09%, to settle at Rs 125.25. The total volume of shares traded was 517,450 at the BSE (Thursday).
