New Delhi : India’s largest bus maker Ashok Leyland’s net-zero emissions electric mobility company Switch Mobility is gearing up to build a global business that could be a “viable competitor” to Chinese EV maker BYD, said Andy Palmer, Executive Vice President and chief executive officer, Switch Dynamics, told Mint.
Hinduja Group flagship Ashok Leyland’s electric mobility arm currently operates in the United Kingdom (where it was originally based as Optare), India and Spain, with a range of electric buses and light commercial vehicles in the South American market. plan to do business together. 2025. BYD’s electric bus arm operates in India in a joint venture with Megha Engineering and Infrastructure Limited as Olectra Greentech.
Switch is now making a sequence of product launches, followed by a roll-out of products in mature markets by 2025. The next five years, until 2030, will be a “maturity” phase for the Switch. The OEM expects its electric commercial van to be less than 12 months away from launch for developing markets like India.
“In the last three months, we have launched three products – a double-decker electric bus, a 12-metre single-decker bus and a low-floor 9-metre bus in India and Europe. The rhythm of the launch you see in front of you is now 2025. will continue till date”, Palmer told Mint.
“We are in the first phase of our business right now – to build. This phase is about being present in the two biggest markets where we have a chance to win – in India, building on the legacy of Ashok Leyland, and the UK. In , building on the legacy of Optare. We also want to be in Europe because it is ultimately the largest EV market in the world. We are learning how to run a global business rather than a regional business. We are also trying to build that Not only do we have an ethos around being a clean energy company, but we just want to be a viable competitor to other global competitors, which is BYD”, he said.
According to Palmer, Switch Mobility will also look to the full localization of its battery packs and battery management systems at its manufacturing facilities in Europe and India, leading to better vertical integration and the ability to harvest data that can improve vehicle product efficiency. Is.
Ashok Leyland has been in the process of finding an investor for Switch Mobility and its electric-mobility-as-a-service (e-mass) subsidiary Om Mobility for the past few quarters, to finance its expansion plans and entry to gain expertise with. and sourcing from some major, new markets.
“We are close to closing the fundraising round at both Switch and OM. We can be a little conservative, in some ways – we have all gone through this simulation of the SPAC market and big valuations, and we didn’t go that route So we are as selective about our investor as our investor has been towards us. We are looking for partners who come with a long-term outlook, the way we want to build the business and We’re not looking to turn a profit next quarter. But we’re pretty much there, and close to ending our talks soon”, Palmer said.
As of now, Leyland’s Switch Mobility has an order book of 6000 electric buses globally, including 600 in India, mainly from state transport units in Mumbai and Bengaluru. However, according to Mahesh Babu, CEO, Switch Mobility India, an orderbook pipeline of 1,000 electric buses is expected in India by the end of this financial year, accelerating significant demand for electric buses for public transport. The company has already delivered 200 electric buses to the UK and India respectively.
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