Ashok Leyland, flagship of the Hinduja Group, announced the formation of a strategic alliance with SUN Mobility, promoted by Chetan Maini, founder of Reva and Uday Khemka, Vice Chairman of SUN Group. This global partnership between Ashok Leyland and SUN Mobility will leverage India's innovation and engineering potential to develop truly world class electric mobility solutions.
Ashok Leyland has been a pioneer in electric buses, hybrid buses, in both CNG as well as diesel, including those that do not require a plug-in. SUN Mobility aims to be the leading provider of universal energy infrastructure and services to accelerate mass electric vehicle usage. SUN Mobility plans to revolutionise the transportation sector by deploying a unique open-architecture ecosystem built around their proprietary smart batteries and a network of quick interchange battery stations. These stations, predominantly powered by renewable energy, will refuel electric vehicles at cost lower than and speed faster than conventional diesel/petrol pumps.
Vinod K. Dasari, CEO & Managing Director of Ashok Leyland said, "At Ashok Leyland we have always proudly leveraged Indian engineering and innovation to develop world class solutions. We were the first and only manufacturer to achieve BS3 emission compliance using a mechanical fuel pump. We were also the first in India to develop a SCR based 8S4 solution in 2010. In 2017, we were the world's first and only company to develop an EGR based 8S4 solution, called iEGR. This latest innovation is performing extremely well and we are expanding our capacity to meet customer demand on our iEGR vehicle solution.
Today's partnership with Sun Mobility is yet another step towards bringing world class solutions to India, developed in India, and by Indians. We are proud of this partnership and hope to bring several new innovative products to the market at the earliest."
Shares of the company gained Rs 1.5, or 1.42%, to trade at Rs 107.10. The total volume of shares traded was 359,752 at the BSE (10.03 a.m., Wednesday).