Ashok Leyland subsidiaries to offer EVs & mobility as service


Chennai, April 8 : Commercial vehicles major Ashok Leyland Ltd. announced floating of two subsidiaries to make electric vehicles (EV) and the other to offer mobility as a service. In a statement issued late Wednesday Ashok Leyland part of the Hinduja group said its UK based EV-maker Switch Mobility Ltd, making buses and vans, will float Switch Mobility Automotive Ltd. for electric automobiles. Another subsidiary called OHM Global Mobility Private Ltd. would focus on providing mobility as a service. Sitch Mobility Automotive Ltd. brings together Ashok Leyland's capabilities both from Optare UK and Ashok Leyland's EV Division, the statement said. OHM Global Mobility is a solutions company being piloted in India with ambitious plans to roll out Mobility as a Service (eMaaS) globally. "Switch Mobility Automotive Ltd. will help us fulfil our aspiration of zero carbon emission transportation. With a strong presence and proven expertise in the commercial vehicle market in India and the experience of operating a large number of electric vehicles successfully in India and the U.K, we see huge opportunities for growth through Switch's expansion in Indian and Global markets," Dheeraj Hinduja, Chairman, Ashok Leyland and Switch Mobility Ltd said. The statement is silent on the investment to be made by the companies concerned. /IANS


IndiGo to explore options to raise liquidity
Mumbai, May 7 : The board of private airline IndiGo on Friday decided to continue exploring all options to increase its liquidity. In a regulato

China's export rebate withdrawal augurs well for Indian steel exporters: ICRA
Mumbai, May 7 : Withdrawal of export rebates by China augurs well for Indian steel exporters and will also support buoyancy in international steel pri

LIC relaxes claim settlement requirements amid Covid crisis
Mumbai, May 7 : Life Insurance Corporation of India (LIC) has given several relaxations in various claim settlement requirements to make the processes