Ashok Leyland announced plans to invest more than INR 50 billion over the next 7–10 years to develop and manufacture next-generation batteries in India. The investment will cover both automotive and non-automotive applications, including energy storage systems.
The company has signed a long-term exclusive partnership with China-based CALB Group for the initiative. The agreements were signed by Shenu Agarwal, Managing Director & CEO, Ashok Leyland, and Jacky Liu, CEO, CALB (HK) Co., Ltd, in the presence of Shom Hinduja, President, Alternative Energy and Sustainability Initiatives, Hinduja Group.
Ashok Leyland stated that the investment will support localisation of battery manufacturing in India. The production is expected to cater not only to the company’s own electric vehicle portfolio, including Switch Mobility, but also to wider demand in the automotive and energy storage sectors.
“Our strategic partnership with CALB is a significant step towards creating a localised battery supply chain in India to accelerate adoption of electric vehicles in India and reduce our dependence on fossil fuels,” said Dheeraj Hinduja, Chairman, Ashok Leyland.
“In the initial phase, the new battery business shall focus on automotive sector, and then move to non-automotive areas as well, including energy storage systems. A Global Centre of Excellence will be created to serve as a hub for research and development, fostering innovation in battery materials, recycling, battery management systems, and advanced manufacturing processes,” added Shenu Agarwal.
According to the company, the partnership is part of broader investments across electric vehicles, mobility-as-a-service, charging equipment, vehicle financing and leasing.
Ashok Leyland, established in 1948, is part of the Hinduja Group and reported revenue of USD 5.52 billion. The company is the second-largest commercial vehicle manufacturer in India, the fourth-largest bus manufacturer globally, and the thirteenth-largest truck manufacturer. Its product portfolio ranges from 2T to 55T gross trailer weight trucks and buses with 9 to 80 seats. The company has expanded its presence to 50 countries with nearly 54,000 touch points and is actively developing vehicles powered by electric, CNG, LNG, and hydrogen fuel technologies.
