Switch Mobility to launch five new models in FY24
Switch Mobility, the electric vehicle (EV) subsidiary of the Hinduja Group, plans to launch five products this fiscal year, according to a top executive, who said group flagship Ashok Leyland could pump in ₹1,200 crore into the unit over the next 12 months in two tranches to bolster its expansion plan. The EV company is scouting for investors as it seeks to expand its presence in India and in the overseas markets.
“This year will be an important one for Switch Mobility with five new products coming,” Dheeraj Hinduja, chairman of Ashok Leyland, told ET.
According to Hinduja, the first of the five models planned for FY24 will be an electric bus meant for the European markets.
