Ashok Leyland’s electric vehicle (EV) subsidiary, Switch Mobility, is open to external investments but is cautious about finding the right strategic partner at the right valuation, according to CEO Shenu Agarwal. While Switch India is anticipated to be cash neutral or positive, additional investments may be needed for Switch UK in FY25 due to market conditions. The company, holding a robust balance sheet, is open to self-investment until an ideal partner is secured. Agarwal affirmed Switch’s strong market performance with an order book exceeding 1,100 buses and over 10,000 units of electric light commercial vehicles. The company aims to navigate challenges in the EV ecosystem through strategic partnerships.
Ashok Leyland’s EV Arm Seeks Strategic Partner, Open to Self-Investment
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