Mumbai, Sept. 1 -- Ashok Leyland has announced plans to invest over INR 50 billion in the development and manufacturing of next-generation batteries. The move is part of the company's strategy to become a key player in India's electric vehicle (EV) ecosystem and support the government's vision for a sustainable, green economy.

The investment, to be rolled out over the next seven to 10 years, will enable the company to produce batteries for its own electric vehicle portfolio, as well as for the broader automotive and energy storage sectors.

To facilitate this, Ashok Leyland has entered into a long-term, exclusive partnership with CALB Group, a leading Chinese battery technology firm. The agreement was signed by Ashok Leyland's Managing D...