Siemens gains 4% on signing MoU with Ashok Leyland for E-Mobility solutions
Shares of Siemens surged as much as 3.8 per cent and hit an intra-day high of Rs 1,912 on the BSE on Friday after the firm signed a memorandum of understanding (MoU) with Ashok Leyland’s Switch Mobility Automotive to address need of electric commercial vehicle customers and execute EMobility Projects in India.
The MoU is aimed at delivering efficient, cost-effective and sustainable E-Mobility solutions to various commercial vehicle customers in India, the firms said in a joint statement.
“Switch Mobility will bring its electric commercial vehicle industry experience while Siemens will provide the charging infrastructure technology and charging infrastructure management software solution to enhance the energy-efficient operations of the chargers,” it added.
