Ashok Leyland Powers Ahead with Rs 5,000 Crore Battery Initiative

Ashok Leyland announces a Rs 5,000 crore investment to develop next-gen batteries for automotive and energy storage. Partnering with China's CALB Group, it aims to foster sustainable mobility and innovation in India. The commitment targets both the company's electric vehicles and broader market demands.

Ashok Leyland, a leading commercial vehicle manufacturer, has committed to investing Rs 5,000 crore over the next decade in the development of next-generation batteries. This strategic move is aimed at bolstering both automotive and energy storage sectors.

The extensive initiative will support Ashok Leyland's electric vehicle lineup, along with addressing non-captive demand across the entire automotive and energy storage industries. The company has formed a long-term exclusive partnership with CALB Group, a prominent Chinese battery technology firm.

Chairman Dheeraj Hinduja emphasized the company's dedication to sustainable mobility, highlighting this partnership's role in creating a localized battery supply chain in India. A Global Centre of Excellence will be established as a hub for further research and innovation.

(With inputs from agencies.)