Companies

Ashok Leyland's EV arm Switch Mobility, Dana announce tie-up

Our Bureau Chennai | Updated on July 30, 2021

Dana to invest $18 million to pick up 1 per cent stake; to be preferred supplier of electric drivetrain components.

Switch Mobility, the electric vehicle arm of Ashok Leyland, announced a strategic agreement with US-based automobile parts supplier Dana Incorporated on Friday.

Under the terms 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 – including e-Axles, gearboxes, motors, inverters, software and controls, and electronics cooling.

Dana is a global leader in drivetrain and e-propulsion systems, supplies axles, driveshafts, transmissions, and electrodynamic, thermal, sealing, digital equipment for conventional, hybrid, and electric-powered vehicles.

“Dana has a long-standing relationship with Ashok Leyland. With this agreement, Dana not only becomes an important supplier to Switch but will also invest USD 18 mn in the company, representing an approximate 1% stake. The investment exemplifies the confidence placed by Dana in Switch and will help to strengthen the relationship further," Dheeraj Hinduja, Chairman of Switch Mobility, was quoted in a press release filed with the exchanges.

Switch Mobility combines the electrical commercial vehicle operations of Ashok Leyland in India and Optare in the UK to secure a leading global position in net zero carbon buses and light commercial vehicles.

Published on July 30, 2021

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