Ashok Leylands subsidiary Switch Mobility announces minority investment by Dana Incorporated

Dana will invest USD 18 million, representing an approximate 1 per cent stake in the company. Dana will also be a preferred supplier of electric drivetrain components for the company’s e-bus and EV commercial vehicle offering.

Ashok Leyland’s subsidiary - Switch Mobility Ltd, the electrified commercial vehicles company has announced a strategic agreement with Dana Incorporated, the global leader in drivetrain and e-propulsion systems. Dana has a long-standing relationship with Ashok Leyland. Dana will invest USD 18 million, representing an approximate 1 per cent stake in the company. 

Dana will also be a preferred supplier of electric drivetrain components for the company’s e-bus and EV commercial vehicle offering – including inverters, e-Axles, gearboxes, motors, software and controls, and electronics cooling. 

Switch Mobility aims to lead to zero-carbon mobility worldwide through positioning innovative products & solutions with best-in-class total cost ownership (TCO). 

Switch Mobility is a next-generation electric bus and light commercial vehicle company with the mission to enrich lives through green mobility. A mature startup, Switch was forged from the innovative EV elements of Ashok Leyland, the third-largest bus and LCV OEM in the world, and Optare, the UK bus manufacturer with over a century of expertise in using the latest technologies in bus design. 

Ashok Leyland is the flagship company of Hinduja group, having a long-standing presence in the domestic medium and heavy commercial vehicle (M&HCV) segment. The company has a strong brand and well-diversified distribution, as well as service network across the country and, has a presence in 50 countries. It is one of the most fully integrated manufacturing companies. 

The shares of Ashok Leyland touched a high of Rs 137.30 per share on BSE during the early market hours.