Ashok Leyland said its UK subsidiary Switch Mobility has fully acquired electric vehicle maker Switch Mobility Automotive, India. “Switch Mobility, the UK, a subsidiary of the Company, has acquired the entire shareholding in Switch Mobility Automotive.
Ashok Leyland Acquired Switch Mobility Automative
The company said investment in equity shares of Switch Mobility Automotive was on hand. Switch Mobility Automotive was incorporated to further the business of manufacturing and selling electric vehicles.
Switch Mobility primarily manufactures electric buses and electric pickup trucks and the important thing about this company is that, unlike other electric buses, this electric bus does not support internet connectivity.
Companies use overbear update if company want to Optimise their electric bus they can do it easily by a just software update.
Apart from this, the company also works on smart AI technology and so far the company has manufactured 200 electric vehicles.
“In a BSE disclosure, Ashok Leyland has announced that Switch Mobility Limited, UK – subsidiary of the company – has acquired the entire shareholding in Switch Mobility Automotive, India. As a result, Switch Mobility Automotive, India, has become a step-down subsidiary of Ashok Leyland.” Source