Leyland, the Indian flagship of the Hinduja Group, announced that its Board has
approved the acquisition of 100% of Ohm Global Mobility Private Ltd (OHM) from
OHM International Mobility Ltd for a nominal consideration of Rs 1 lakh. As the company is yet to become operational
the consideration was nominal.
this move, OHM becomes a 100% subsidiary of the company. Ashok Leyland has also announced that it will
be investing up to Rs 300 crore as equity into OHM to operationalise the
company. In addition, existing E-MaaS contracts will be transferred to OHM
subject to necessary approvals.
guarantees or comfort letters to be furnished to secure future orders, will be
provided by Ashok Leyland, subject to necessary approvals. Dheeraj G. Hinduja,
Executive Chairman, mentioned: “E-Maas is gaining significance in India, and we
feel that this is the right time for us tooperationalize OHM India.E-Maas will
be a strategy adopted by both the Public Sector and Private Sector to enhance
EV penetration. The government is looking to strengthen the payment mechanism
under E-Maas and there are several initiatives that the Government is pursuing
to enhance EV adoption. Given this
backdrop, OHM will acquire significant importance and we are very positive on
Agarwal, Managing Director & CEO, Ashok Leyland stated: “E-MaaS has become
an integral and important part of Indian Commercial EV landscape. Today a
significant part of the EV Bus market – especially State Transport Undertaking
Orders – are routed under the E-MaaS mechanism and we needed to have a separate
company for that. Switch India will be supplying the EV Buses and Light
Commercial Vehicles to OHM for it to deploy under the E-Maas contracts. OHM will
become an important company in the EV portfolio of Ashok Leyland.”
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