Ashok Leyland’s UK-based subsidiary Switch Mobility Ltd has has fully acquired Switch Mobility Automotive Ltd, India. Switch Mobility Automotive was established in December 2020 and is into the manufacture and sale of electric vehicles. This was informed by Ashok Leyland in a BSE filing.
The company said that with this, Switch Mobility Automotive Limited, India has become its step-down subsidiary. Ashok Leyland which is Hinduja group’s flagship company makes trucks, buses, light vehicles and defence vehicles. The investment in the equity shares of Switch Mobility Automotive Ltd is at arm’s length, the company said.