Shares of Ashok Leyland on October 24 gained in the early trade on October 24 after the commercial vehicle manufacturer announced a mega order win from Chennai’s Metropolitan Transport Corporation.
At 10.22 am, the stock was trading at Rs 217.18 on National Stock Exchange, up 1.43 percent from the previous close.
The automobile company said its electric mobility subsidiary, OHM Global Mobility, bagged an order for 500 12-m ultra-low floor electric buses from the Chennai transport body.
“This order will further strengthen Ashok Leyland's dominant position in the bus segment and underscores its commitment to advancing sustainable urban mobility in India,” the company statement said.
Ashok Leyland’s another arm Switch Mobility will supply the state-of-the-art EiV12 model buses to OHM, which will be responsible for operation and maintenance of the buses for 12 years, the company's exchange filing said.
Out of 500 buses, 400 will be non-AC and 100 will be equipped with air conditioning, it said.
Shenu Agarwal, MD & CEO of Ashok Leyland, said, “We are excited to continue our long-standing partnership with the Metropolitan Transport Corporation (MTC) and be a partner in their journey towards green public transportation. Switch already has over 950 vehicles in operation and with this order has a healthy order book of over 2000 vehicles.”
The company will develop charging infrastructure at different locations to ensure efficient operations.
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