Hinduja Group flagship Ashok Leyland has invested another £50.68 million (Rs 537 crore) in its UK-based electric vehicle subsidiary Swift Mobility, taking its total investment so far to £113 million.
This is the second tranche of investment after Ashok Leyland had announced in November last year that its Board had approved an investment of Rs 1,200 crore in Optare in one or more tranches.
Optare is the holding company of Ashok Leyland’s electric vehicle initiatives globally including Switch Mobility Ltd UK and Switch Mobility Automotive Ltd India.
