Ashok Leyland renames Optare Group as Switch Mobility Ltd

Ashok Leyland Ltd Chairman Dheeraj Hinduja after unveiling the new logo and branding said, "Optare is adopting a new identity and logo as 'Switch' which signals our strategic ambitions in electric and green mobility". "Towards this, Ashok Leyland is examining various options to bring the entire electric vehicle initiatives of Ashok Leyland under Switch Mobility Ltd," he said.

Chennai, Nov 27 (PTI): Hinduja Group flagship Ashok Leyland on Friday said it was renaming its United Kingdom subsidiary Optare Group as Switch Mobility Ltd as part of its drive towards electrification and new mobility services, the city-based company said on Friday. Ashok Leyland Ltd Chairman Dheeraj Hinduja after unveiling the new logo and branding said, "Optare is adopting a new identity and logo as 'Switch' which signals our strategic ambitions in electric and green mobility".

"Towards this, Ashok Leyland is examining various options to bring the entire electric vehicle initiatives of Ashok Leyland under Switch Mobility Ltd," he said. The strategy reflects the clear growth opportunities in the global light commercial vehicle and bus electric vehicle which is projected to grow at a Compounded Annual Growth Rate of more than 25 per cent and to be worth in the region of USD 50 billion by 2030, he said.

"To capture part of that market, we are considering EV initiatives through Switch that could include financial participation and strategic tie-ups", he said. Following the rebranding, Switch would build on the success of Optare in the United Kingdom where it is a leading player in electric buses with more than 150 of them currently operating successfully in its home market.

Recently, Optare was named as OEM of the Year (Bus/Commercial Vehicle) at the 2020 EVIEs awards ceremony. The company said it was currently fulfilling orders of 30 electric double-decker buses to Metroline in London and also into Tower Transit, London and First York.

"This will create a foundation for the expansion of Switch's operations in Europe and growth in India and other parts of the world," the company said. Ashok Leyland MD Vipin Sondhi said, "with our proposed new structure, Switch will be positioned to become the potential global arm of Ashok Leyland focused on electric vehicles and green mobility solutions." The proposed step would enable Ashok Leyland to focus on the development of new electric vehicle platforms through Switch including next-generation buses, E-LCVs (electric light commercial vehicles) and swiftly scale up the EV business, he said.

Optare Plc Chairman Dr Andrew C Palmer said, "The reorganisation of the Optare group allows us to continue to serve customers with the portfolio of products we have today." Positioning Switch Mobility Ltd at the forefront of the commercial EV space, should benefit the entire organisation, he added.PTI VIJ SS PTI PTI.