Ashok Leyland on Thursday, October 24, said its subsdiairy OHM Global Mobility bagged an order for 500 12 metre ultra-low floor electric buses from the Metropolitan Transport Corporation (MTC) in Chennai.
OHM is Ashok Leyland’s electric mobility arm which focuses on mobility-as-as-a-service business.
Another subsidiary of the company, Switch Mobility, will supply EiV12 model buses to OHM, who in trun will operate and maintain the buses over 12 years, as per the contract awarded by the MTC. Of the 500 buses, 400 will be non-AC and the remaining will be equipped with air conditioning.
The electric buses are designed to seat 37 passengers with a space additional 24 standing passengers. The buses have a range of more than 200 km per charge and the are ideal for the long city routes in Chennai. They are designed for comfort and efficiency and feature an ultra-low floor design.
“Our SWITCH EiV12 buses combine cutting-edge technology, reliability, and comfort, making them the ideal solution for modern cities. We are committed to driving the transitioning to electric mobility, and this partnership with MTC is a step forward in creating cleaner, more efficient transport systems,” said Ashok Leyland’s MD and CEO Shenu Agarwal. He added that Switch already has 950 vehicles in operation and with the new order, the order book comprises over 2,000 vehicles.
Ashok Leyland shares were trading 1.58% higher at ₹217.5 apiece at 10.15 am on Thursday, October 24. The stock has gained 17% this year, so far.
Content retrieved from: https://www.cnbctv18.com/market/ashok-leyland-share-price-gain-arm-bags-order-500-electric-buses-mtc-chennai-19498123.htm.
