By purchasing an extra 1.01% of Dana Ltd.’s shares, Optare Plc joins Hinduja Automotive in controlling the entire UK electric vehicle manufacturer.
On June 3, 2025, the Indian commercial vehicle maker Dana Ltd. sold a further 1.01% stake in Switch Mobility Limited UK to Ashok Leyland’s UK affiliate Optare Plc.
Optare Plc now owns 99.57% of Switch Mobility, up from 98.56% prior to the deal. Together with the current ownership of Hinduja Automotive Limited UK, the two companies now possess all of the electric vehicle manufacturing.
In accordance with the regulatory filing submitted in compliance with SEBI’s listing and disclosure requirements, the share purchase agreement was signed on June 3, 2025, at 10:36 PM IST.
With an emphasis on zero-emission transportation options, Switch Mobility Limited is a manufacturer of electric buses and light commercial vehicles. The business was founded as part of Ashok Leyland’s plan to increase its market share in the electric vehicle industry.
One of India’s commercial vehicle manufacturers, Ashok Leyland is a member of the Hinduja Group and has its headquarters in Chennai. As the transportation industry transitions to cleaner technology, the firm has been seeking to expand its line of electric vehicles.
Ashok Leyland’s dedication to the electric vehicle market through its global subsidiaries is demonstrated by the consolidation of ownership in Switch Mobility. The selling company, Dana Ltd, had held a minority interest in the electric vehicle manufacturer based in the United Kingdom.
Both the National Stock Exchange of India and BSE Limited, where Ashok Leyland shares are traded under the codes ASHOKLEY and 500477, respectively, were informed at the same time.
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