Electric vehicle manufacturer Ampere to invest in Ranipet
The company proposes to invest ₹700 crore over 10 years at an e-mobility manufacturing facility it will set up, a press release said
Electric vehicle manufacturer Ampere Electric will set up an e-mobility manufacturing facility at Ranipet. Ampere Electric, which was acquired by Greaves Cotton two years ago, has signed a Memorandum of Understanding (MoU) in this regard with the Tamil Nadu government.
According to a press release, the company proposes to invest ₹700 crore over 10 years at the facility. With more than 1.4 million sq.ft, the plant will be one of the largest state-of-the-art e-mobility manufacturing plants in the country, when commissioned.
The press statement said that Ampere Electric’s Ranipet plant will have the capacity to manufacture one lakh units in its first year of operation and the potential to scale up to one million units in a year. This facility is expected to be operational in 2021.
Nagesh Basavanhalli, Group CEO and MD of Greaves Cotton, said, “This is a historic milestone for Greaves Cotton, as we outline our investment to transform the clean mobility landscape in India…This move aligns with our mission of decarbonising last mile transportation for a cleaner planet and uninterrupted mobility.
Roy Kurian, COO of E-Mobility Business (two and three-wheelers), Ampere Electric, said in the release, “We have strengthened our leadership position in the e-mobility segment and [are] 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.”
Source: thehindu
