Ashok Leyland has acquired e-MaaS company OHM
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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.
