The MoU positions Switch Mobility as a leader in the electric vehicle market. New Delhi: Switch Mobility, a Hinduja Group company and subsidiary of Ashok Leyland, has partnered with Vertelo to deploy 1,000 electric vehicles in India over the next three to five years. This agreement aims to accelerate electric vehicle adoption by offering leasing solutions, addressing climate change, air pollution, and urban congestion. The MoU was signed in Chennai.
Switch Mobility will provide electric light commercial vehicles (eLCVs) and electric buses. Vertelo will lease and finance these vehicles, making them accessible to businesses and municipalities. This collaboration aims to create a sustainable transportation ecosystem.
The partnership addresses the financial barriers to EV adoption by offering leasing options. This allows businesses to transition to electric fleets without significant upfront investment. The goal is to make electric mobility a practical and affordable choice.
Future plan
The 1,000 electric vehicles will be deployed across India over the next three to five years. This initiative is expected to contribute to reducing emissions and improving air quality in urban areas. It will also promote the growth of the electric vehicle industry in India.
Mahesh Babu, CEO of Switch Mobility said, “This collaboration represents a pivotal shift in India's commercial mobility landscape. By combining our advanced EV technology with Vertelo's innovative leasing solutions, we're not just selling vehicles – we're enabling businesses to embrace sustainable transportation without capital constraints. This aligns perfectly with our vision of democratising electric mobility across India's diverse
Sandeep Gambhir, CEO of Vertelo, said, “Our alliance with Switch Mobility marks a transformative approach to commercial fleet electrification. By removing the traditional barriers of high upfront costs and operational uncertainties, we're empowering businesses of all sizes to participate in India's electric revolution. This partnership goes beyond vehicle deployment – it's about creating a sustainable ecosystem that makes electric mobility the obvious choice for commercial operators.”
The MoU positions Switch Mobility as a leader in the electric vehicle market. It also underscores Vertelo's role in enabling broader EV adoption through leasing options. The agreement signifies a joint effort to advance sustainable transportation in India.
