Ashok Leyland, one of India’s leading commercial vehicle manufacturers, has increased its stake in electric vehicle subsidiary Switch Mobility to 100%, consolidating its position in the growing EV segment. This move reflects the company’s deepening commitment to electric mobility and its intent to drive the transition in both domestic and international markets.
The ownership consolidation was executed through Optare PLC, Ashok Leyland’s UK-based arm, which acquired the remaining 38% equity in Switch Mobility. This acquisition now makes Switch a wholly owned subsidiary, allowing for streamlined decision-making and more aggressive investments in the EV space. The company views this as a strategic alignment for long-term value creation.
Switch Mobility, known for its electric buses and light commercial vehicles, has been expanding its presence in the UK, Europe, and India. The full acquisition provides Ashok Leyland with greater operational control and flexibility in capital deployment, R&D, and product development—especially critical in the fast-evolving electric commercial vehicle landscape.
Ashok Leyland’s Managing Director & CEO, Shenu Agarwal, emphasized that this step marks a major milestone in the company’s vision to lead the EV transition in the commercial vehicle segment. He also reiterated the focus on enhancing sustainability and innovation through Switch’s growing electric portfolio, including new launches and technology upgrades.
The move comes at a time when the Indian government is offering strong incentives for electric mobility, and global markets are actively adopting zero-emission transport solutions. With Switch now fully under its belt, Ashok Leyland is better positioned to tap into these opportunities and scale up its EV offerings rapidly.
As the commercial EV sector heats up, complete ownership of Switch Mobility will enable Ashok Leyland to integrate strategy, accelerate EV adoption, and maintain competitive advantage. This decisive step reaffirms the company’s ambitions to lead the electric mobility movement on both Indian and global roads.
