Ashok Leyland Invests in Battery Ecosystem for Sustainable India
Ashok Leyland, the Indian flagship of the Hinduja Group and the country’s leading commercial vehicle manufacturer, has announced plans to invest in the development and manufacturing of next-generation batteries for automotive and non-automotive applications, including energy storage systems. This move is in line with the Government’s vision of creating a sustainable and green economy. Ashok Leyland has entered into a long-term exclusive partnership with CALB Group, one of the foremost battery technology companies in China, to invest in battery localization in India, catering to both captive and non-captive demand in the automotive sector and energy storage sector. This business would entail investments over Rs. 5000 Cr over the next 7-10 years.
Key Highlights
- Ashok Leyland to invest in the development and manufacturing of next-generation batteries for automotive and non-automotive applications
- Long-term exclusive partnership with CALB Group, a leading battery technology company in China
- Investment in battery localization in India, catering to both captive and non-captive demand in the automotive sector and energy storage sector
- Investments over Rs. 5000 Cr over the next 7-10 years
- Creation of a Global Centre of Excellence for research, development, fostering innovation in battery materials, recycling, battery management systems, and advanced manufacturing processes