Ampere Electric Plans Rs. 700 Crore Investment In New Manufacturing Plant

Electric mobility company Ampere Electric has announced phased investment of Rs. 700 crore over the next 10 years, to set up a world class e-mobility manufacturing plant in Ranipet, Tamil Nadu. Ampere Electric, the wholly owned electric mobility subsidiary of Greaves Cotton Private Limited, signed a Memorandum of Understanding (MoU) with the government of Tamil Nadu. The planned Ranipet manufacturing facility, with an area of 1.4 million square feet, will be on the largest state-of-the-art e-mobility manufacturing plants in the country.

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Ampere Electric's Ranipet manufacturing facility will have the potential to start manufacturing 1,00,000 units per annum in the first year of operations, and will have the potential to scale up production to 1 million units per annum. The facility is expected to be operational later in 2021, and will provide employment opportunities to the local population.

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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 de-carbonising last mile transportation for a cleaner planet and uninterrupted mobility."

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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."

Ampere Electric reported sales growth of 35 per cent in the third quarter of FY 2020-21, despite a challenging business environment brought on by the COVID-19 pandemic. Ampere Electric has over 500 dealerships across India, more than 75,000 customers, and over 50 B2B buyers.