Ashok Leyland to extend Rs. 5,000 crore loan to EV arm

Ashok Leyland will seek shareholder approval to lend Rs 4,000-5,000 crore or stand guarantor for Switch Mobility Automotive, a step-down electric bus making subsidiary. ASHOK LEYLAND intends to fund the loan from internal accruals. The company’s cash and bank balances stood at Rs 501 crore at the end of March, 2023.

To read more visit – Financial Express

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