Greaves Cotton to acquire majority stake in electric vehicle company Ampere

  • Strengthens its strategic commitment to the last mile mobility segment with innovative, state-of-the-art solutions

Greaves Cotton, one of India’s leading diversified engineering companies, today announced that they have entered into definitive agreements pursuant to which Greaves Cotton will acquire a majority stake in EV company Ampere Vehicles Pvt Ltd, subject to customary closing conditions. This acquisition will accelerate the development of clean energy technology solutions for mobility needs of passengers and small businesses.

Ampere is  one  of  the  leading  brands  in  the  last  mile  mobility  electric  vehicles  segment.  It has strong in house capabilities in designing, developing, manufacturing & marketing electric vehicles with a wide range of applications.

Greaves  currently  provides  transportation  to  almost  10  million  people  daily  through  its  power train  solutions.  In addition, Greaves reaches 5 million customers (of aftermarket spare parts) per month through its network of 5000+ retail outlets. The newly launched Greaves Care network services nearly 7000+ vehicles per month, with plans to substantially ramp-up in the coming years. Greaves will be able to leverage its distribution, aftermarket and service strengths to help Ampere grow more rapidly. Greaves  aims to create enhanced value for its shareholders  by  investing  in advanced clean energy technologies through partnerships in  India and worldwide.  This acquisition in the electric mobility segment  underscores  the strategic intent of Greaves.

Nagesh Greaves Cot   ampere

Mr. Nagesh Basavanhalli, MD & CEO, Greaves Cotton Limited, said, “Greaves has been a trusted brand since 1859, and is well known for the reliability of its products, a strong value proposition based on low total cost of ownership and widespread pan India reach. With this strategic acquisition, we will be able to address a wider range of customer segments with clean energy mobility solutions.  Greaves and Ampere will be a synergistic combination of our excellence in frugal engineering & manufacturing with a new age electric mobility solutions company’.


Filed in: Auto, Infrastructure, Logistics, Road Tags: 

Share This Post

Related Posts

© Copyright 2016 All rights reserved

Developed and Maintained by Poorna Corp.