Ashok Leylands UK subsidiary acquires Indian EV subsidiary
Hinduja groups commercial vehicle major Ashok Leyland Ltd on Tuesday said its UK subsidiary Switch Mobility Ltd has acquired the entire stakes in its Indian subsidiary Switch Mobility Automotive Ltd.
Hinduja group's commercial vehicle major Ashok Leyland Ltd on Tuesday 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.
See Zee Business Live TV Streaming Below:
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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.