Ampere Electric, the wholly-owned electric mobility subsidiary of Greaves Cotton Ltd, has announced phased investment potential of Rs 700 crore over 10 years to set up an e-mobility manufacturing plant in Ranipet, Tamil Nadu. A Memorandum of Understanding (MoU) to this effect was signed by the Company, with the Government of Tamil Nadu. At over 1.4 million square feet, the proposed Ranipet manufacturing plant, when ready and as per the company, will be one of the largest e-mobility manufacturing plants in the country.
As per a statement released by the company, Ampere Electric’s Ranipet plant will have the potential to start manufacturing 100,000 units in its first year of operation and has the potential to scale to 1 million units per annum. This facility will be operational in 2021 itself. The Ranipet Plant will boast an advanced automation process for superior manufacturing capabilities.
Nagesh Basavanhalli, Group CEO & MD, Greaves Cotton Limited, said, “This is a historic milestone for Greaves Cotton, as we outline our investment to transform the clean mobility landscape in India. This plant is dedicated to the State of Tamil Nadu and our nation. This move aligns with our mission of decarbonising last-mile transportation for a cleaner planet and uninterrupted mobility.”
Roy Kurian, COO, E-Mobility Business (2W & 3W), Ampere Electric, said, “We have strengthened our leadership position in e-mobility segment and getting ready to cater to the growing demand of customers, channel partners, both in B2B and B2C segments. The manufacturing facility in Ranipet will help us expand our offerings to an ever-increasing customer base not just in India but also in other parts of the world.”
This announcement rides on the back of an impressive 35% growth in Ampere sales volumes for Q3 FY21.