Ashok Leyland dips 5%; Switch Mobility, pledged share, SML Isuzu news weigh

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Ashok Leyland dips 5%; Switch Mobility, pledged share, SML Isuzu news weigh - Business Standard

Quick Summary:

Switch Mobility is contemplating the potential closure of its manufacturing operations in UK due to ongoing economic uncertainties and a slower-than-expected transition to EVs in public transport.

While Ashok Leyland remained committed to the UK market over the last 15 years, adoption of zero emission passenger vehicles has been tepid.

Importantly, the impact on Ashok Leyland’s balance sheet is expected to be minimal, as the strong performance of Switch India offsets potential impairments, according to ICICI Securities.