Ashok Leyland targets Ebitda break-even for Switch Mobility in FY25

Switch Mobility has order book of over 2,000 vehicles, including an order for 500 electric buses from MTC Chennai

Commercial vehicle major Ashok Leyland expects the Indian business of its electric vehicle (EV) arm Switch Mobility (Switch) to reach break-even on an operating basis during the current financial year. The company said it was unlikely to bring in investors for Switch or its e-Mobility as a Service (eMaaS) arm, Ohm Global Mobility, unless it finds suitable investors and good valuations.

 

Ashok Leyland's Executive Chairman, Dheeraj Hinduja, told Business Standard that the parent company's financial position was "very comfortable" and it will continue to support Switch and Ohm. As of now, Switch Mobility's order book includes over 2,000 vehicles, including