Ashok Leyland has renamed its UK-based subsidiary Optare Group as Switch Mobility as part of its new electric mobility plan, under which the company plans to expand its global EV footprint and also introduce new mobility services.
Home-grown commercial vehicle manufacturer, Ashok Leyland, has announced its global electric vehicle plans, under which the company has renamed its UK-based subsidiary, Optare Group as Switch Mobility. Under the new brand, the company plans to expand its global EV footprint and also introduce new mobility services. Unveiling the new logo and brand name, Dheeraj Hinduja, Chairman of Ashok Leyland, said, “Optare is adopting a new identity and logo as “Switch”, which signals our strategic ambitions in Electric and Green Mobility. Towards this, Ashok Leyland is examining various options to bring the entire EV initiatives of Ashok Leyland under Switch Mobility Ltd.”
With the new electric mobility brand Swith, Ashok Leyland aims to target the global electric LCV and e-Bus market, which the company says is projected to grow at a Compounded Annual Growth Rate (CAGR) of more than 25 per cent and to be worth in the region of $50 billion by 2030. To capture a part of this market, Ashok Leyland plans to look at financial participation and strategic tie-ups through Switch.
Vipin Sondhi, Managing Director & CEO, Ashok Leyland Ltd, added: “Ashok Leyland is a pioneer in delivering innovative commercial vehicles and mobility solutions. With our proposed new structure, Switch will be positioned to become the potential global arm of Ashok Leyland focused on Electric Vehicles and Green Mobility Solutions. This proposed step will enable Ashok Leyland to focus on the development of new electric vehicle platforms through Switch including next-generation Buses, PODs and E-LCVs and swiftly scale up the EV business.”
Ashok Leyland says that Switch will build on the success of Optare in the UK, where it currently has over 150 electric buses on the road. Following the successful delivery of 30 Electric Double Decker buses to Metroline in London, the company is currently fulfilling orders for operators including Tower Transit, London and First York. This will create a foundation for the expansion of Switch’s operations in Europe and growth in India and other parts of the world.