As per media sources, Switch Mobility, e-mobility arm of the company has won an order to supply 71 electric buses to JSW Steel. These buses are intended to be user for employee transportation for the steel major's Vijayanagar plant.
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This order win bodes well for the company with proven capabilities in the electric bus segment amidst the launch of new platform in the recent past. This coupled with cyclical recovery underway in the domestic CV space as well as decline in key raw material prices should boost profitability at the company in the near term. Key moniterable going forward however remains the equity capital raise for its electric arm i.e. Switch Mobility which is pending for sometime now.
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