Ashok Leyland's $5,000 Crore Bet on India's EV Future

Ashok Leyland, the flagship company of the Hinduja Group, has announced a major investment of over ₹5,000 crore over the next 7 to 10 years to develop next-generation battery technologies for both automotive and non-automotive applications, including energy storage systems.

The initiative will support Ashok Leyland’s core operations as well as its electric vehicle subsidiary, Switch Mobility, while addressing broader industry demand for advanced energy solutions. As part of this strategic move, the company has entered into an exclusive long-term partnership with China-based CALB Group, a global leader in battery technology, to establish a robust and localized battery supply chain in India.

Speaking on the development, Dheeraj Hinduja, Chairman of Ashok Leyland, said:“Our strategic partnership with CALB is a significant step towards creating a localised battery supply chain in India to accelerate EV adoption and reduce fossil fuel dependence.”

Shenu Agarwal, Managing Director and CEO, added that the new battery business will initially serve the automotive sector, with plans to expand into energy storage systems over time. The company will also set up a Global Centre of Excellence, focused on driving innovation in battery materials, recycling, battery management systems, and advanced manufacturing techniques.

News by Rahul Yelligetti.