Ashok Leyland plans to lend Rs 4,000-5,000 crore or guarantee Switch Mobility Automotive, its electric bus subsidiary. Funding will come from internal accruals. The investment is crucial for future-proofing Ashok Leyland, and they have confirmed orders for 2,500 electric buses. FY24 will be a high capex year, with new electric vehicle products in the pipeline.
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