Switch will build on the success of Optare in the UK, where it is a leading player in electric buses, with more than 150 of them currently operating successfully in its home market.
Ltd today said that Optare Group Ltd (Optare), its majority-owned UK arm, has been renamed SwitchMobility (Switch) as part of its drive towards electrification and new mobility service. With the proposed new structure, Switch will be positioned to become Ashok Leyland's global arm, focusing on electric vehicles
and Green Mobility Solutions.
Unveiling the new logo and name, Dheeraj Hinduja, Chairman, Ashok Leyland
said Optare is adopting a new identity and logo as 'Switch', which signals the parent's strategic ambitions in electric and Green mobility. Towards this, Ashok Leyland
is examining various options to bring all EV initiatives of Ashok Leyland underSwitch Mobility Ltd.
This strategy reflects the clear growth opportunities in the global LCV
& Bus EV market, which is projected to grow at a CAGR of more than 25 per cent and to reach $50 billion by 2030.
"To capture part of that market, we are considering EV initiatives through Switch that could include financial participation and strategic tie-ups,” said Hinduja.
Switch will build on the success of Optare in the UK, where it is a leading player in electric buses, with more than 150 of them currently operating successfully in its home market. Optare, the forerunner of Switch, was recently named OEM of the Year (Bus/Commercial Vehicle) at the prestigious 2020 EVIEs Awards. Following the successful delivery of 30 electric double-decker buses to Metroline in London, the company is currently fulfilling orders for operators such as Tower Transit, London and First York. This will create a foundation for expansion of Switch’s operations in Europe and growth in India and other parts of the world, he added.
Vipin Sondhi, Managing Director & CEO, Ashok Leyland Ltd, added: “Ashok Leyland is a pioneer in delivering innovative commercial vehicles
and mobility solutions. 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."
This step will enable Ashok Leyland to focus on the development of new EV platforms through Switch including next-generation buses, PODs and E-LCVs and swiftly scale up the EV business, he added.
Andrew C Palmer, Chairman, Optare Plc, added, "The reorganisation of the Optare group allows us to continue to serve customers with the portfolio of products we have today, while positioning SwitchMobility Ltd at the forefront of the commercial EV space, which should benefit the entire organisation.”