Hinduja Group flagship company Ashok Leyland on Friday announced that Optare Group Ltd, its majority owned UK subsidiary, has been renamed Switch Mobility Ltd as part of its drive towards electrification and new mobility services.

Unveiling the new logo and name, Dheeraj Hinduja, chairman of Ashok Leyland Ltd, said: “Optare is adopting a new identity and logo as ‘Switch’, which signals our strategic ambitions in electric and green mobility. Ashok Leyland is examining various options to bring the entire EV initiatives of the company under Switch Mobility Ltd.”

The global electric LCV and bus market is projected to grow at a compounded annual growth rate of more than 25 per cent and will be worth $50 billion by 2030. To capture part of that market, Ashok Leyland is considering EV initiatives through Switch that could include financial participation and strategic tie-ups.

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 operating in its home market. After delivering 30 electric double-decker buses to Metroline in London, the company is fulfilling orders of operators such as Tower Transit, London and First York.

This will create a foundation for the expansion of Switch’s operations in Europe and growth in India and other parts of the world.