Ashok Leyland Subsidiary Acquires Another 1.01% Stake In Switch Mobility
By Ankur Chandra | Updated at: Jun 4, 2025 05:58 PM IST
Ashok Leyland Ltd has announced a key strategic move through its UK-based subsidiary, Optare Plc, which has acquired an additional 1.01% equity stake in Switch Mobility Limited (SML UK) from Dana Ltd. This brings Optare Plc’s total holding in SML UK to 99.57%.
Following this transaction, Optare Plc, along with fellow Hinduja Group entity Hinduja Automotive Ltd (UK), now holds a combined 100% ownership in SML UK, consolidating full control over the electric vehicle (EV) arm of the group.
Shareholding Shift: Pre and Post-Transaction
| Shareholder | Before (%) | After (%) |
|---|---|---|
| Optare Plc (Ashok Leyland) | 98.56 | 99.57 |
| Dana Ltd | 1.01 | 0.00 |
| Hinduja Automotive Ltd (UK) | — | Joint 100% (with Optare) |
Event Date and Time: June 3, 2025, at 10:36 P.M. IST
Driving EV Growth Strategy
This acquisition reinforces Ashok Leyland’s commitment to building a strong presence in the electric mobility sector through Switch Mobility. Complete ownership enables greater strategic flexibility, faster execution of business plans, and enhanced synergies across its global EV operations. Switch Mobility, based in the UK, is central to Ashok Leyland’s zero-emission vehicle ambitions, focusing on electric buses and light commercial vehicles for global markets.
Future Outlook and Expansion Plans
With this full acquisition, Ashok Leyland is better positioned to lead electrification initiatives across Europe, the UK, and India. It also allows for streamlined decision-making and easier capital infusion or restructuring initiatives for scaling EV production. The development reflects growing consolidation within the EV space and underlines Ashok Leyland’s intent to be a major global player in next-generation transportation solutions.
REF:https://nsearchives.nseindia.com/corporate/ASHOKLEY_04062025094507_17Optare_Dana-acquisition.pdf
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