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The funds will be infused over the next few months after necessary statutory approvals in one or more tranches, Ashok Leyland said.

The Board of Directors of Ashok Leyland in their meeting have approved an investment of Rs 1,200 crore in Switch Mobility as equity through its holding company Optare UK. The funds infused will be used for capital expenditure, R&D and meeting operational requirements both in UK and India. The investment will be infused over the next few months after necessary statutory

A traditionally medium and heavy commercial vehicle (M&HCV) player, Ashok Leyland entered the LCV segment with a joint venture with Nissan in 2007 and then bought off the JV in 2016. The company has a market share of 20 per cent in the LCV segment in India despite making a late entry

Kolkata: Ashok Leyland is banking on Asean markets like Indonesia, Malaysia, Philippines along with Egypt, other African countries and West Asia for g.

SwitchMetrocity: The order consists of 10 Switch Metrocity 9.5m electric buses, which will operate on Route W11 in London and 60 Slimline Solo 8.5m, Euro-6 certified buses sold under the Optare brand, presently integrated into SWITCH Mobility, the company said.