ETN Buzz

Ampere Electric, the electric-mobility section of Greaves Cotton has announced that it will capitalize Rs 700 crore in a phased manner over a decade 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 projected to be completed by this year.

Once commissioned, it will be one of the largest facilities in the electric mobility space in the country. It will have a preliminary capacity to produce 1 lakh units in its initial year of operations with the potential to scale it up to 1 million units per annum, it said.

Greaves Cotton has already capitalized Rs 250 crore to procure Ampere and e-three wheeler company ELE and on their scale-up, since January 2019, said the declaration.

"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-carbonizing 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 to fast-track adoption of clean and sustainable solutions in the form of electric vehicles, the company stated.

Roy Kurian, chief operating officer for e-mobility business (e-2W and e-3W) 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 globally.