Ashok Leyland to invest ₹5,000 crore in India’s battery ecosystem

<p>In the initial phase, the new battery business shall focus on the automotive sector, and then move to non-automotive areas. </p> — In the initial phase, the new battery business shall focus on the automotive sector, and then move to non-automotive areas.

Ashok Leyland, flagship of the Hinduja Group, on Monday said it will invest over ₹5,000 crore for the development and manufacturing of next-generation batteries for both automotive and non-automotive applications, including energy storage systems, over the next 7-10 years.

In the backdrop of improving bilateral relations, Ashok Leyland has entered into a long-term exclusive partnership with CALB Group, one of the foremost battery technology companies in China, the automobile manufacturer said in a regulatory filing.

“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. This will not only provide for Ashok Leyland and Switch’s own electric vehicle portfolio but will also cater to non-captive demand in the entire automotive sector as well as in the energy storage sector, added the company.“In the initial phase, the new battery business shall focus on the automotive sector, and then move to non-automotive areas as well, including energy storage systems,” said Shenu Agarwal, Managing Director & CEO, Ashok Leyland. Agarwal added that 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.

The agreements were signed by Shenu Agarwal, Managing Director & CEO, Ashok Leyland and Jacky Liu, CEO, CALB (HK), Ltd, in presence of Shom Hinduja, President, Alternative Energy and Sustainability Initiatives, Hinduja Group.