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Dana, Switch Mobility partner on commercial EVs
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Ashok Leyland stock jumps after Dana buys huge stake
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Switch Mobility announces minority investment by Dana
ANI
30 Jul 2021, 16:18 GMT+10
Leeds [UK], July 30, (ANI): Switch Mobility Ltd the electrified commercial vehicles company and subsidiary of Hinduja Group owned Ashok Leyland Ltd on Friday announced a strategic agreement with Dana Inc the global leader in drivetrain and e-propulsion systems to make a minority investment in Switch.
Dana will make the strategic investment in Switch Mobility and will also be a preferred supplier of electric drivetrain components for the company s e-bus and EV commercial vehicle offering including e-Axles, gearboxes, motors, inverters, software and controls, and electronics cooling.
Ashok Leyland rose as much as 10% to hit an intraday high of Rs 137.45.
Shares of the Chennai-based commercial vehicle maker - Ashok Leyland - rose as much as 10 per cent to hit an intraday high of Rs 137.45 after the company announced that its subsidiary Switch Mobility, electric bus and light commercial vehicle company, has entered into a strategic agreement with Dana, the global leader in drivetrain and e-propulsion systems. As part of the agreement, Dana will make a strategic investment in Switch Mobility and will also be a preferred supplier of electric drivetrain components for the company s e-bus and EV commercial vehicle offering, Ashok Leyland said in a press release.
Ashok Leyland s EV arm Switch Mobility, Dana announces tie-up
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