India’s Greaves Cotton, a diversified engineering company, has completed the
acquisition of EV manufacturer Ampere Vehicles Pvt Ltd.
The company says the move is part of its long-term strategy to strengthen and expand its presence in last-mile e-Mobility space.
Ampere Vehicles is best known for manufacturing a range of affordable electric scooters such as the Zeal. It’s also one of the first companies in India to indigenously manufacture key components of an EV.
Nagesh Basavanhalli, MD and CEO, Greaves Cotton Limited, says: “Greaves Cotton is looking to leverage its position as the leader in providing last mile solutions by playing a pivotal role in enhancing the pace of India’s transition to electric mobility. Our strategic acquisition of Ampere, one of the leading brands in the personal and last mile mobility electric vehicles segment, is part of a larger vision to helm a renewable-energy revolution in the country.”
He adds: “With Ampere’s acquisition, we are now well poised to become one of
the fast-growing e2W player in the market.”
Ampere has been building and manufacturing electric vehicles for a decade. It has a base of 50,000+ customers.
To read our full interview with Nagesh Basavanhalli, click on the link below.