Ampere Electric, the electric-mobility arm of Greaves Cotton, said it will invest Rs 700 crore in a phased manner over 10 years to set up a manufacturing plant at Ranipet in Tamil Nadu. The proposed plant, for which Ampere Electric has signed a memorandum of understanding with the Tamil Nadu government, will be spread in 1.4 million sq feet and is expected to be completed by this year, the company said in a statement. Once commissioned, it will be one of the largest facilities in the electric mobility space in the country. It will have an initial capacity to produce 1 lakh units in its first year of operations with the potential to scale it up to 1 million units per annum, it said.
Greaves Cotton has already invested Rs 250 crore to acquire Ampere and e-three wheeler company ELE and on their scale-up, since January 2019. “Ampere Electric announces phased investment potential of Rs 700 crore over 10 years to set up a world-class e-mobility manufacturing plant in Ranipet,” the company said.
Greaves Cotton Group CEO and MD Nagesh Basavanhalli said, “This is a historic milestone for Greaves Cotton, as we outline our investment to transform the clean mobility landscape in India.” He added that this move aligns with our mission of de-carbonising last-mile transportation for a cleaner planet and uninterrupted mobility. To be built on the principles of Industry 4.0, the Ranipet plant will boast an advanced automation process for superior manufacturing capabilities, it added.
With this, Ampere actively participates in Make in India and Atmanirbhar Bharat missions in order to accelerate adoption of clean and sustainable solutions in the form of electric vehicles, the company stated.
Roy Kurian, chief operating officer for e-mobility business (2-wheeler and three-wheeler) of Ampere Electric, said, “We have strengthened our leadership position in the e-mobility segment and are getting ready to cater to the growing demand of customers, channel partners, both in B2B (business-to-business) and B2C (business-to-consumer) segments.”
He added that the manufacturing facility in Ranipet will help us expand the company’s offerings to an ever increasing customer base not just in India but also in other parts of the world. Currently, the company has over 500 dealerships and an over 75,000 customer base besides over 50 B2B buyers.
