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ā¢ Ashok Leyland has approved an investment of Rs 1,200 crore in its EV arm Switch Mobility for capital expenditure, R&D, and operational requirements in the UK and India.
ā¢ The funds will be infused in one or more tranches over the next few months, and Switch is expected to grow in the European markets with the launch of its new E1 12m bus in 2024.
ā¢ The company is confident in the growth potential of EVs, and will continue to invest in product development and expanding operations.