Dana, the global leader in drivetrain and e-propulsion systems, and Switch Mobility, the electrified commercial vehicles company and subsidiary of Ashok Leyland, have announced a strategic agreement.
Dana is to 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 offerings – including e-axles, gearboxes, motors, inverters, software and controls, and electronics cooling.
Commenting on the pact between the two companies, Dheeraj Hinduja, Chairman of Switch Mobility, said: “Dana has a long-standing relationship with Ashok Leyland. This now extends to Switch Mobility and we are happy to have Dana invest in the company. With this agreement Dana not only becomes an important supplier to Switch but will also invest US$ 18 million (Rs 133 crore) 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. At Switch Mobility, we have ambitious plans to lead zero carbon mobility globally through positioning innovative products and solutions with best in class TCO. I believe the partnership with Dana will accelerate the process, building on our strong relationship of many years.”
Switch Mobility, which combines the electrical commercial vehicle operations of Ashok Leyland in India and Optare in the UK, aims to secure a leading global position in net zero carbon buses and light commercial vehicles. On July 28, the company’s management revealed a strategic business growth plan to enter new global markets and also to launch an e-LCV in India later this year.
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