Ashok Leyland will invest ₹5,000 crore over the next ten years to develop next-generation batteries for automotive and non-automotive uses, including energy storage systems.
The Hinduja group flagship said the initiative will back the company’s and subsidiary Switch’s EV portfolio and meet non-captive demand across the entire automotive and energy storage sectors.
It added that the business would entail investments of more than ₹5,000 crore over the next 7-10 years.
The company has entered a long-term exclusive collaboration with CALB Group, one of the foremost battery technology companies in China.
Ashok Leyland chairman Dheeraj Hinduja said, “Ashok Leyland is deeply committed to shaping the future of sustainable mobility in India in full alignment with the government’s vision.
“Our strategic partnership with CALB is a significant step towards creating a localised battery supply chain in India to accelerate the adoption of electric vehicles in India and reduce our dependence on fossil fuels.”
Ashok Leyland’s managing director and CEO, Shenu Agarwal, aims to focus the initial phase of the battery business on the automotive sector, and then extend to non-automotive areas, including energy storage systems.
