|

Mergers & Acquisitions

|

|

eMaaS, Financial & Insurance Services

Ashok Leyland has acquired e-MaaS company OHM

|

By RACE Innovations Pvt Ltd - 3rd September 2023

OHM - now a subsidiary of Ashok Leyland's Switch Mobility

India – Ashok Leyland Ltd of Chennai, a Hinduja Group announced that its board has approved the 100% acquisition of Ohm Global Mobility Pvt Ltd (OHM)¹ of Chennai (which filed for insolvvency in 2022) for a nominal consideration of USD1,200. OHM becomes a wholly-owned subsidiary of Ashok Leyland and Switch Mobility.

Ashok Leyland added it would be investing up to USD36.5m into OHM and transferring all existing e-MaaS contracts with the purchase. Any guarantees or comfort letters necessary to secure future orders will be provided by Ashok Leyland.

Become a subscriber to read article

Start free trial Already a subscriber? Click here to login.

Choose your subscription

Individual

£420 / annum

✓ 1 × users
✓ 3 × devices per user
✓ Unlimited articles
✓ Article Downloads
✓ Premium Content
✓ Enhanced Company Profiles

Select Subscription

Team

£1,650 / annum

✓ 5 × users
✓ 3 × devices per user
✓ Unlimited articles
✓ Article Downloads
✓ Premium Content
✓ Enhanced Company Profiles

Select Subscription

Group

£3,000 / annum

✓ 10 × users
✓ 3 × devices per user
✓ Unlimited articles
✓ Article Downloads
✓ Premium Content
✓ Enhanced Company Profiles

Select Subscription

Enterprise

£8,500 / annum

✓ Unlimited users
✓ 3 × devices per user
✓ Unlimited articles
✓ Article Downloads
✓ Premium Content
✓ Enhanced Company Profiles

Select Subscription

or Start your 30 day free trial today and get almost unrestricted access. Start your free trial

Subscription Features

Unlimited Article Limits

Access to all articles published daily as well as Truck & Bus Builder archives.

Access Article Downloads

Tables, graphs and statistical information as well as government papers.

Premium Content

Including in depth market reports, feature articles and interviews with industry leaders.