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 expected to be completed by this year, the company said in a statement
Ampere Electric, the electric-mobility arm of Greaves Cotton, on Tuesday said it will invest ₹700 crore in a phased manner over 10 years 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 expected to be completed by this year, the company said in a statement.
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.
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."