ABB India will hold a meeting of the Board of Directors of the Company on 12 February 2020.

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Ashok Leyland and ABB Power Products and Systems India have signed a Memorandum of Understanding (MoU) in the public e-mobility space, to expand the ecosystem for efficient and greener electric bus transportation systems in India. The MoU outlines a partnership to develop a pilot electric bus based on ABB's innovative flash-charge technology, TOSA, which tops up the battery in just seconds while passengers get on and off the bus. This avoids the need to take the vehicle out of servicefor recharging every few hours or having a replacement bus ready, thus minimizing the size of the fleet while increasing passenger carrying capacity.

The Indian Government is promoting the use of electric vehicles (EVs), in some cases planning on mandating it, to reach 30 per cent penetration of EVs by 2030. For operators, the switch to electric is a big ask. Their primary challenge with battery-operated buses is to maximise passenger load carrying capacity and running time to make the whole operation economically viable as well as sustainable for the future.

To solve this problem, Ashok Leyland - India's largest bus manufacturer, and the fourth largest manufacturer of buses in the world - will develop and manufacture electric buses with ABB's award-winning TOSA flash-charging technology along with operational support and service.

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ABB India has fixed 23 December 2019 as record date for determining the names of the equity shareholders of the Company to whom equity shares of ABB Power Products and Systems India would be issued and allotted as per the sanctioned scheme of arrangement (demerger) between the company and APPSIL.

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ABB India announced that the Bengaluru Bench of the Hon'ble National Company Law Tribunal vide its order dated 27 November 2019 has sanctioned the scheme of arrangement between ABB India and ABB Power Products and Systems (APPSIL) involving the demerger of the power grids business of the Company to APPSIL. The Scheme will be effective upon filing the certified copy of order of NCL T with Registrar of Companies.

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