Ashok Leyland has announced its plans to investin development and manufacturing of next-generation batteries, for bothautomotive and non-automotive applications, including energy storage systems.Towards this end, the company has entered into a long-term exclusive partnershipwith CALB Group, one of the foremost battery technology companies in China.
Ashok Leyland will invest in batterylocalization in India. This will not only provide for Ashok Leyland andSwitch’s own electric vehicle portfolio but will also cater to non-captivedemand in the entire automotive sector as well as in energy storage sector. Thisbusiness would entail investments over INR5,000-cr over the next 7-10 years.
Shenu Agarwal, Managing Director and CEO, AshokLeyland, said, “In the initial phase, the new battery business shall focus onautomotive sector, and then move to non-automotive areas as well, includingenergy storage systems. A Global Centre of Excellence will be created to serveas a hub for research and development, fostering innovation in batterymaterials, recycling, battery management systems, and advanced manufacturingprocesses.”