News: As per media sources, Switch Mobility, a subsidiary of Ashok Leyland in the field of e-mobility has entered into in an agreement with Chalo (app based public transport aggregator) to supply >5,000 electric buses over a period of 3 years. Order value for the same is pegged at ~US$1 billion an.d is likely to be executed on gross cost contract (GCC, Rs/km) basis.
View: This is a big order win for the company leading to further consolidation of its market share in the domestic bus segment. The key monitorable, however, going forward, will be the fund raise by its EV to augment its capacity as well as capabilities in the e-mobility domain.
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