Ampere Electric Plans Investment of INR 700 crores for e-mobility manufacturing plant in Ranipet
Two years after its first acquisition in e-mobility, Ampere Electric, the wholly owned electric mobility subsidiary of Greaves Cotton Ltd, announced phased investment potential of INR 700 crore over 10 years to set up a world class 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, today. At over 1.4 million square feet, the proposed Ranipet manufacturing plant when ready will be one of the largest state-of-the-art e-mobility manufacturing plants in the country.
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 by 2021, providing employment opportunities to the local population. To be built on the principles of Industry 4.0, the Ranipet Plant will boast an advanced automation process for superior manufacturing capabilities.
With this, Ampere actively participates in Make-in-India and Atmanirbhar Bharat story of the Government in order to accelerate adoption of clean and sustainable solutions in form of Electric Vehicles. Speaking on this announcement, 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.”
Commenting on the launch of this new facility, 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 amidst a challenging business environment triggered by the Covid pandemic.
Ampere Electric’s innovation in e2w has pioneered the shift towards e-mobility since the last 12 years. Today, with a fast growing base of 500+ dealerships, 75000+ customer base and 50+ B2B buyers, the company has emerged as one of the best loved EV brands in the country.