Greaves completes acquisition of Ampere Vehicles
Greaves Cotton has acquired the entire shareholding of Hemalatha Annamalai in Ampere Vehicles through secondary purchase, thereby acquiring absolute control in its subsidiary Ampere Vehicles. This is part of Greaves’ long-term strategy to strengthen and expand its presence in last-mile e-Mobility space that is seeing significant interest from government and commuters alike.
“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. With Ampere’s acquisition, we are now well poised to become one of the fast-growing e2W player in the market.” said Nagesh Basavanhalli, MD and CEO, Greaves Cotton.
Ampere Vehicles is now part of the e-Mobility division of Greaves Cotton, with a significant presence in the Indian electric two-wheeler industry since last 10 years. The brand has efficiently contributed towards a sustainable environment with a range of affordable electric scooters such as Zeal, V-48 LA, Magnus 60, Reo LA and REO Li. These scooters are popular with commuters making a switch from conventional to electric two-wheelers. In June 2019, Ampere became one of the select few EV manufacturers in India to launch high-speed EV two-wheeler ‘’Zeal’’ with
FAME II subsidy.
@EPC World Media