- Ashok Leyland has acquired a 100% share in OHM Global Mobility Pvt Ltd (OHM).
- Ashok Leyland has a mere Rs 1 lakh, making it a wholly-owned subsidiary.
- Shenu Agarwal, CEO, emphasized the necessity of purchasing the EV.
To house its upcoming E-MaaS company, Ashok Leyland purchased a 100% share in OHM Global Mobility Pvt Ltd (OHM) from OHM International Mobility Ltd.
E-MaaS, or “Electric Mobility as a Service,” combines cutting-edge technology and fresh business strategies to foster widespread EV adoption.
Ashok Leyland purchases OHM Global Mobility
OHM Global Mobility is now a wholly owned subsidiary of Ashok Leyland after the acquisition, which cost just Rs 1 lakh, was authorized by the board of the firm.
OHM Global Mobility would be operationalized with an equity investment from Ashok Leyland of up to Rs 300 crore. E-MaaS contracts that already exist will be migrated to OHM after receiving all applicable permissions.
E-MaaS, in the opinion of executive chairman Dheeraj G Hinduja, is becoming more significant in India, and OHM India should now begin operations.
Shenu Agarwal, managing director, and CEO, emphasized the necessity of the purchase by pointing out that a substantial portion of the EV bus market, particularly state transport undertaking orders, is routed using the E-MaaS mechanism.
OHM will get EV buses and light commercial vehicles from Switch India for use in E-MaaS contracts, elevating Ashok Leyland’s EV portfolio to include OHM.
At 12:29 a.m., Ashok Leyland stock was slightly up on the BSE, with shares having increased by 0.8% in the previous year.
