Home / Companies / News /  Greaves Cotton e-mobility arm opens its largest EV hub in Tamil Nadu
Listen to this article

Greaves Electric Mobility Pvt. Ltd., the e-mobility arm of Greaves Cotton Limited, and one of the leading players in the electric vehicles segment on Tuesday announced the opening of its largest electric vehicles production facility at Ranipet in Tamil Nadu.

Inaugurated by Tamil Nadu Chief Minister M K Stalin and the Minister for Industries Thangam Thenarasu, the facility is spread in 35 acre and is located in the industrial centre of Tamil Nadu. It will serve as an e-mobility hub for both domestic and export markets, according to Greaves Electric Mobility.

The facility is a part of the 700-crore investment plan announced by the company earlier this year to enhance its market share further in the rapidly expanding domestic EV space, it added.

Last month, the company sold over 7,500 units. "Through Greaves Electric Mobility, we are solving real-world mobility challenges of common Indians. Therefore, not surprisingly our e-mobility business has seen over 48 prer cent growth from H1 FY21 to H1 FY22," Nagesh Basavanhalli, MD and Group CEO, Greaves Cotton told PTI.

"Interestingly, 40 per cent of our sales is through referrals, indicating a strong word-of-mouth patronage of the brand. This is the strength of our brand that is allowing us to aim big in the e-mobility space as we go about creating technically sound and comfortable-to-ride electric 2Ws at a scale that puts us in the forefront of the Indian EV revolution," Basavanhalli said.

The manufacturing facility with additional assembly lines will produce 1-million vehicles a year, the company said.

This plant will also allow the company to nurture a highly skilled workforce and generate employment for the local community including women who form 70 per cent of the plant's workforce, he added.

The new manufacturing plant is also in accordance with the central government's flagship initiatives such as "Make-in-India" and "Atmanirbhar Bharat" to promote indigenous capabilities in manufacturing, the company said.

Greaves Electric Mobility has a robust retail and after-sales network with over 7,000 touchpoints, according to the release.

Earlier this year, Greaves Electric Mobility Pvt. Ltd. had announced the completion of its acquisition of 26% stake in electric-3 wheeler manufacturer, MLR Auto Ltd.

With the conclusion of this acquisition, Greaves Electric Mobility strengthened its position as one of the largest end-to-end players in the last mile mobility segment catering to 85% of the consumer demand.

Besides energy efficient products, the company also invested in complete aftermarket support, retail financing solutions with tie-ups from various partners.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Edit Profile
Get alerts on WhatsApp
My ReadsRedeem a Gift CardLogout