Switch Mobility (India) to invest USD60 million in UK holding company
By RACE Innovations Pvt Ltd - 26th June 2025
India – Switch Mobility Pvt Ltd, the electric bus and light van manufacturer based in Bengaluru and a subsidiary of UK-based Switch Mobility Ltd (itself a subsidiary of Ashok Leyland Ltd), has announced a planned investment of INR500 crore (USD60 million) into Optare PLC, the holding company of its electric mobility operations.
The investment is scheduled for the fourth quarter of FY2025-26 and is aimed at supporting the ongoing capital expenditure and growth plans of Switch Mobility. In addition, the company will invest INR200 crore (USD24 million) into Hinduja Finance to meet its capital adequacy requirements. (This announcement is incongruous to recent reports that the UK operations will be discontinued).
