Switch Mobility, the electric vehicle (EV) subsidiary of Hinduja Group, plans to launch five products this fiscal, according to a top executive, who said group flagship Ashok Leyland will add 1,200 units to the unit in the next 12 months. Can put crores of rupees. In two phases to strengthen its expansion plan. The EV company is looking for investors as it looks to expand its presence in India and overseas markets.
“This year will be important for us Switch Mobility with five new products,” Dheeraj Hinduja, President, Ashok Leyland told ET.
According to Hinduja, the first of the five models planned for FY24 will be an electric bus for the European markets. It is expected to go on sale in January. This will be followed by two new low bus platforms for India – a 9-metre and a 12-metre bus.
There will also be two light commercial vehicles (the Dost and the Bada Dost—the electrified versions of the company’s light truck offering) that will go on sale before Diwali, he told ET.
In the year ended March 31, Switch delivered 400 buses in India. This includes electric double decker buses.
Switch has been engaging with investors to invest in its expansion and new product launch plans for over a year, but the absence of “like-minded partners” and those looking for “long-term investments” has not yielded results . Hinduja said.
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