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Ashok Leyland's EV arm posts profit
Mint Ahmedabad
|November 13, 2025
Switch Mobility, which manufactures electric buses and trucks, was acquired by Ashok Leyland in the year 2020
K.M. Balaji, CFO at Ashok Leyland.
Ashok Leyland's electric vehicle (EV) unit, which makes e-buses and trucks, reported profit for the first time in the July-September period, joining its listed peer Olectra Greentech in the black.
While Switch Mobility does not report exact profit numbers and earnings before interest tax depreciation and amortization (Ebitda) margins, the management said in an earnings call that the EV arm managed to turn profitable during the second quarter of the financial year 2025-26 (FY26).
K.M. Balaji, chief financial officer at Ashok Leyland, attributed the profitability of the EV unit to the fact that the company has been able to optimize production to avoid significant costs and has also shuttered the UK plant this year.
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