6/28/2021 Ashok Leyland Mother EV plant Switch PAT: Ashok Leyland to set up „mother EV‟ plant in India under

ia under UK-subsidiary Switch, Auto News, …

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Ashok Leyland to set up ‘mother

EV’ plant in India under UK-
subsidiary Switch
Switch UK will set up an Indian entity which in turn will put up the plant. The
company’s entire electric vehicle business will move to Switch which will also
develop EV-specific platforms in buses and electric light commercial vehicles.

TNN June 26, 2021, 20:11 IST

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Ashok Leyland’s existing EV products like the e-buses it has already supplied to cities like Ahmedabad and
Patna will also move to Switch, said Gopal Mahadevan, CFO, Ashok Leyland. “The EV investments for Switch
will not come out of Ashok Leyland,” he added.

Truck and bus maker Ashok Leyland will set up a „mother plant‟ in India under its
UK-subsidiary Switch for its electric vehicle business.

Switch UK will set up an Indian entity which in turn will put up the plant. The
company‟s entire electric vehicle business will move to Switch which will also
develop EV-specific platforms in buses and electric light commercial vehicles.

Ashok Leyland‟s existing EV products like the e-buses it has already supplied to
cities like Ahmedabad and Patna will also move to Switch, said Gopal
Mahadevan, CFO, Ashok Leyland. “The EV investments for Switch will not come
out of Ashok Leyland,” he added.

The company has announced it will spend upto Rs 750 crore on „debottlenecking
the LCV factories‟ and on „safety and regulations and residual spend‟. “We will
fund capex with debt because our debt equity ratio is very low and as of March 31,
2021 we have Rs 2,600 crore of debt on our books,” said Mahadevan.

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