Greaves Cotton Completes Acquisition of Ampere Vehicles

Greaves Cotton Completes Acquisition of Ampere Vehicles

Ampere Vehicles is now a part of the E-Mobility division of Greaves Cotton. With this acquisition, Greaves Cotton strengthens and expands its presence in the e-mobility segment

Greaves Cotton announced the completion of its acquisition of the entire shareholdings of Ms Hemalatha Annamalai in Ampere Vehicles Pvt Ltd through a secondary purchase, thereby acquiring absolute control on its subsidiary, Ampere Vehicles Pvt Ltd. This is part of Greaves’ long-term strategy to strengthen and expand its presence in last-mile e-mobility space that is witnessing increasing interest from the government as well as the commuters.

Ampere Vehicles is now part of the E-Mobility division of Greaves Cotton. 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. 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.

Over the last 10 months, Ampere vehicles have had witnessed significant growth in its market share and the exclusive outlets selling Ampere electric scooters have gone up from 75 to over 180 (350+ outlets including Greaves retail stores). As a result of Ampere’s initiatives to introduce lithium-ion batteries and the Omni-channel approach, its sales have witnessed a consistent growth over last year.

Nagesh Basavanhalli, MD & CEO, Greaves Cotton Limited, said Greaves Cotton aims towards providing last mile solutions by playing a pivotal role in enhancing the pace of India’s transition to electric mobility. The strategic acquisition of Ampere, one of the leading brands in the personal and last mile mobility electric vehicles segment, is part of its larger vision to helm a renewable-energy revolution in the country, he added.