Switching Gears: Ashok Leyland’s EV Arm Eyes FY26 Profit Surge Amid Leadership Shuffle

Ashok Leyland’s electric vehicle subsidiary, Switch Mobility, is charging ahead with ambitious growth plans and a leadership realignment. The company aims to double its top line in FY26, targeting revenue of ₹900–1,000 crore in FY25 and its first-ever net profit in India by FY26. This optimism is backed by a robust order book of over 1,800 electric buses and plans to triple bus volumes, supported by a shift to outright sales over the Gross Cost Contract model.

 

Amid this momentum, S Mahesh Babu has stepped down as CEO of Switch Automotive Mobility. Babu, who previously led Mahindra Electric, was instrumental in scaling Switch’s India operations and driving product innovation. His departure marks the end of a pivotal chapter in the company’s EV journey.

 

Stepping into the driver’s seat is Ganesh Mani, who will take additional charge as CEO of Switch Automotive Mobility. Mani, currently President and COO at Ashok Leyland, brings over three decades of manufacturing and operations expertise from stints at Hyundai and Maruti Suzuki. His appointment is expected to strengthen synergies between Ashok Leyland and Switch, especially as the group ramps up investments in alternative fuels and electric mobility.

 

With a sharpened leadership focus and bullish growth targets, Switch Mobility is positioning itself as a key player in India’s evolving EV landscape—one electric bus at a time.

 

Sources: CMV360, ET Auto, Autocar Professional, Financial Express, Economic Times Auto