Ashok Leyland To Carve Out Two New Units, Stock Surges 6%

By Peter Noronha3 days ago

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At 11:10 am, the Ashok Leyland shares were trading higher by 6.1 per cent on BSE

Ashok Leyland has decided to form two new subsidiaries as part of its plans to strengthen green transport solutions. Ashok Leyland through its subsidiary Switch Mobility, the U.K. based EV producer of buses and vans announced its global expansion plans into India and its plan to create two subsidiary companies, Ashok Leyland said in a regulatory filing to the stock exchanges.

“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 UK, we see huge opportunities for growth through Switch's expansion in Indian and global markets,“ Ashok Leyland Chairman Dheeraj Hinduja said.

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