Ashok Leyland Accelerates Multi-Fuel Strategy, Bets on EVs and LNG Ahead of Hydrogen Adoption

Ashok Leyland Ltd, India’s second-largest commercial vehicle maker, is ramping up its efforts across the entire spectrum of alternate fuels. Its near-term focus is on battery electric and liquefied natural gas (LNG), even as it continues to invest in hydrogen-powered solutions for the long term.

“We are working on all kinds of alternative fuels,” said Shenu Agarwal, Managing Director & CEO of Ashok Leyland, during a post-results interaction. “Of course, we have a different roadmap for each fuel type depending on when we believe the fuel will become more prominent, in India or overseas markets.”

According to Agarwal, battery electric vehicles (BEVs) and LNG trucks are expected to be adopted faster than hydrogen, given infrastructure readiness and operational viability. “What we believe right now is that electric batteries and LNG will be adopted a little bit faster than hydrogen,” he said.

Despite that, the company remains one of the global pioneers in hydrogen trucking. “We have the largest fleet in the world of hydrogen trucks running with a customer partner,” Agarwal stated, without naming the customer.

Ashok Leyland’s LNG truck development is at an advanced stage. “Some of the products have already been launched in the market, and others will be launched during this year,” he said, indicating an aggressive rollout in FY26.

The company is already present across multiple weight categories in the battery electric space. “We have the largest range of battery electric trucks in the country, from the Switch products in the 2–3.5-tonne GVW range to the BOSS electric truck in the 14–19-tonne range,” Agarwal said. “We have just started to ship our 55-tonne battery-electric tractor-trailer commercially.”

Ashok Leyland’s EV efforts are led by its subsidiary, Switch Mobility, which has launched electric light commercial vehicles and buses in both domestic and global markets. The company has also highlighted strong momentum in this segment, with Switch delivering double-digit EBITDA in Q4 FY25 and breaking even for the full fiscal year.

“We are very well moving on all fronts as far as alternative fuels are concerned,” Agarwal said, reiterating the company’s long-term commitment to sustainable mobility.

Ashok Leyland’s multi-pronged approach comes as India’s commercial vehicle industry explores multiple green technologies to meet future emission norms, lower fleet operators' TCO, and align with government-led energy transition policies.