4 days ago
Ashok Leyland increases stake in UK's Switch Mobility to 100%
Ashok Leyland's UK-based subsidiary, Optare Plc, has completed the acquisition of a 1.01% stake in Switch Mobility Limited, UK, from Dana Ltd., raising its total stake to 99.57%. Following this, Optare Plc and Hinduja Automotive Ltd. will now jointly hold 100% ownership in the electric vehicle arm.
The strategic acquisition, formalized through a Share Purchase Agreement signed on June 3, 2025, strengthens Ashok Leyland's control over Switch Mobility and aligns with the group's broader electric mobility ambitions.
The transaction reinforces Ashok Leyland's continued investment and expansion plans in the EV segment, particularly in Europe and India through Switch Mobility, which is focused on developing next-generation electric buses and light commercial vehicles.
The company communicated the regulatory filing under SEBI's Listing Obligations and Disclosure Requirements Regulation 30, notifying exchanges BSE and NSE of the development.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
