{"id":450099,"date":"2021-11-16T10:34:02","date_gmt":"2021-11-16T05:04:02","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=450099"},"modified":"2021-11-16T13:18:40","modified_gmt":"2021-11-16T07:48:40","slug":"ashok-leyland-to-transfer-ev-business-to-step-down-arm","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ashok-leyland-to-transfer-ev-business-to-step-down-arm\/","title":{"rendered":"Ashok Leyland to transfer EV business to step-down arm"},"content":{"rendered":"<p>Commercial vehicles maker Ashok Leyland NSE -2.93 % on Friday said its board has approved transfering of its electric vehicles (EV) business to its step-down subsidiary Switch Mobility Automotive Ltd, India (SMAL) for Rs 240 crore on a slump sale basis.<\/p>\n<p>Also, the board at its meeting held on Friday has approved the transfer of its eMaaS (e-mobility as a service) business for Rs 65 crore to Ohm Global Mobility Pvt Ltd, India, a step down subsidiary of Hinduja Automotive Ltd, UK, the promoter of the company, Ashok Leyland said in a regulatory filing.<\/p>\n<p>&#8220;The transfer of EV business to Switch India is being undertaken with an aim to integrate the capabilities of Ashok Leyland&#8217;s EV business,&#8221; the company said, adding it is expected to be completed by March 31, 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Commercial vehicles maker Ashok Leyland NSE -2.93 % on Friday said its board has approved transfering of its electric vehicles (EV) business to its step-down subsidiary Switch Mobility Automotive Ltd, India (SMAL) for Rs 240 crore on a slump sale basis. Also, the board at its meeting held on Friday has approved the transfer of its eMaaS (e-mobility as a service) business for Rs 65 crore to Ohm Global Mobility Pvt Ltd, India, a step down subsidiary of Hinduja Automotive Ltd, UK, the promoter of the company, Ashok Leyland said in a regulatory filing. &#8220;The transfer of EV business to [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,239,136],"tags":[],"class_list":["post-450099","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/450099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=450099"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/450099\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=450099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=450099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=450099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}