Ashok Leyland to Invest Rs 50 Billion in Battery Ecosystem

02 Sep 2025 CW Team

As part of this initiative, the company has entered a long-term exclusive partnership with CALB Group, a leading Chinese battery technology firm. The agreements were signed by Ashok Leyland’s Managing Director and CEO, Shenu Agarwal, and CALB (HK) Co., Ltd CEO, Jacky Liu, in the presence of Shom Hinduja, President of Alternative Energy and Sustainability Initiatives at the Hinduja Group.

This investment underscores Ashok Leyland’s ambition to be a key contributor to India’s electrification ecosystem, in line with the Government’s push for a sustainable and green economy. The battery localisation strategy will support not only Ashok Leyland and Switch Mobility’s EV portfolio, but also cater to third-party demand across India’s automotive and energy storage sectors.

Dheeraj Hinduja, Chairman of Ashok Leyland, remarked, “We are fully aligned with the Government’s vision for sustainable mobility. This strategic partnership with CALB will help establish a localised battery supply chain, reducing fossil fuel dependency and accelerating EV adoption in India.”

The initial phase will focus on the automotive segment, gradually expanding into energy storage applications. A Global Centre of Excellence will be established to drive R&D in battery materials, recycling, battery management systems, and advanced manufacturing technologies.

This announcement marks a significant milestone in the Hinduja Group’s broader electrification strategy, which spans electric vehicles, mobility-as-a-service, charging infrastructure, vehicle financing, and leasing solutions. The move positions Ashok Leyland as a central player in building India’s future-ready electric mobility landscape.

Ashok Leyland, the Indian flagship of the Hinduja Group and one of the country’s leading commercial vehicle manufacturers, has announced plans to invest Rs 50 billion over the next 7 to 10 years to develop and manufacture next-generation batteries. These batteries will cater to both automotive and non-automotive applications, including energy storage systems.As part of this initiative, the company has entered a long-term exclusive partnership with CALB Group, a leading Chinese battery technology firm. The agreements were signed by Ashok Leyland’s Managing Director and CEO, Shenu Agarwal, and CALB (HK) Co., Ltd CEO, Jacky Liu, in the presence of Shom Hinduja, President of Alternative Energy and Sustainability Initiatives at the Hinduja Group.This investment underscores Ashok Leyland’s ambition to be a key contributor to India’s electrification ecosystem, in line with the Government’s push for a sustainable and green economy. The battery localisation strategy will support not only Ashok Leyland and Switch Mobility’s EV portfolio, but also cater to third-party demand across India’s automotive and energy storage sectors.Dheeraj Hinduja, Chairman of Ashok Leyland, remarked, “We are fully aligned with the Government’s vision for sustainable mobility. This strategic partnership with CALB will help establish a localised battery supply chain, reducing fossil fuel dependency and accelerating EV adoption in India.”The initial phase will focus on the automotive segment, gradually expanding into energy storage applications. A Global Centre of Excellence will be established to drive R&D in battery materials, recycling, battery management systems, and advanced manufacturing technologies.This announcement marks a significant milestone in the Hinduja Group’s broader electrification strategy, which spans electric vehicles, mobility-as-a-service, charging infrastructure, vehicle financing, and leasing solutions. The move positions Ashok Leyland as a central player in building India’s future-ready electric mobility landscape.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Infrastructure Energy

06 Apr 2026

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

Real Estate

06 Apr 2026

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..