Companies

Ashok Leyland unveils new identity for Optare

Our Bureau Chennai | Updated on November 27, 2020 Published on November 27, 2020

Subsidiary renamed to Switch Mobility LTD, to focus on EV space

Leading truck and bus maker Ashok Leyland has announced that its UK subsidiary Optare Group Ltd has been renamed Switch Mobility Ltd, as part of its drive towards electrification and new mobility services.

A company statement said Dheeraj Hinduja, Chairman of Ashok Leyland, unveiled the new logo and name.

“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,” he said in the statement.

The strategy reflects the opportunities in the global LCV and EV-bus market, which is projected to grow at a CAGR of more than 25 per cent and to be worth in the region of $50 billion by 2030. “To capture part of that market, we are considering EV initiatives through Switch that could include financial participation and strategic tie-ups,” added Hinduja.

“With our proposed new structure, Switch will be positioned to become the potential global arm of Ashok Leyland focussed 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 and electric LCVs and swiftly scale up the EV business,” said Vipin Sondhi, Managing Director & CEO, Ashok Leyland Ltd.

Switch will build on the success of Optare in the UK, where it is a leading player in electric buses and has more than 150 of them currently operating successfully in its home market.

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 is expected create a foundation for the expansion of Switch’s operations in Europe and growth in India and other parts of the world.

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Published on November 27, 2020
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