Ashok Leyland Limited has informed the Exchange regarding a press release dated March 11, 2026, titled "Ashok Leyland Breaks Ground for Battery Pack Manufacturing Facility in Tamil Nadu".
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Ashok Leyland has broken ground for a new greenfield battery pack manufacturing facility at Pillaipakkam near Chennai, Tamil Nadu. The project involves an investment of Rs. 400-500 Crore and is part of the Hinduja Group's planned investments under an MOU signed in September 2025. The facility will localize EV battery pack production, strengthen India's electric mobility supply chain, and support battery supply chain localization, in line with Tamil Nadu's EV Policy 2023 and India's net-zero 2070 vision. The foundation stone was unveiled by Tamil Nadu Chief Minister M.K. Stalin in the presence of Executive Chairman Dheeraj Hinduja and MD & CEO Shenu Agarwal. Ashok Leyland, which already operates nine facilities in Tamil Nadu spanning over 800 acres, has invested more than Rs. 9,000 Cr in the state over decades.
This is a strategic, forward-looking move into the EV battery value chain, leveraging subsidiary Switch Mobility's EV portfolio. The Rs. 400-500 Cr capex is modest relative to Ashok Leyland's scale, so near-term earnings impact is limited, but it strengthens the company's positioning in India's growing electric mobility market.