Ashok Leyland of the Hinduja group plans to set up a new manufacturing facility roll out electric vehicles. The capex planned in this venture with its UK-based arm Switch Mobility is around Rs 1,500 crore. The Chennai-based firm has also lined up a Rs 500 crore investment to develop powertrains based on alternative fuels like CNG, hydrogen and electric for its commercial vehicles range.
In Spain, the company is coming up with a manufacturing facility and R&D centre and there are plans to grow this over the next few years. In India, the company will be optimising the facilities that are available with Ashok Leyland. The company is also looking at the production of a brand-new LCV range from the perspective of Switch which will be for the European UK and the US markets.