Greaves’ Plans for E-Mobility – EV Next
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Introduction
Greaves, a noted 3 wheeler engine manufacturer entered the electric mobility sector with the acquisition of Ampere vehicles and has other plans too including setting up a battery manufacturing plant in India.
Company Profile
Greaves Cotton Limited is a holding company, which is engaged in manufacturing of engines and engine applications, manufacturing and trading of agro products, trading of spares related to engines and construction equipment. The Company’s segments include Engines, Infrastructure Equipment and Others. The Company has manufacturing facilities in the states of Maharashtra and Tamil Nadu. Its products are sold in India with export to the Middle East, Africa and the South East Asia Region.
Product Profile
The company owns Ampere electric vehicles manufactures Li-ion and LA powered scooters, bicycles, trikes and LCVs.
Future Plans
- Greaves had first invested ₹77 crore in Ampere in October 2018 and had acquired a stake of 67.34%. According to the company, Greaves’ total investment in Ampere now stands at ₹120.49 crore (including control premium).
- The company had earmarked ₹150 crore to be spent on Ampere over the next three years
- Currently, the company is producing 1,800 bikes and plans are to ramp it up to 5,000 units per month during FY 19-20.
- Greaves is currently working on potential investment in a battery plant for electric vehicles for which it is building a local network of suppliers.
Partnerships
- Ampere, a wholly-owned subsidiary of Greaves Cotton Limited (GCL), has entered into an incubation partnership with Bengaluru-based RV College of Engineering (RVCE), for creating an Electric Vehicle (EV) Mentorship Model for future of mobility.
- Greaves Cotton used Altigreen’s 3 wheeler electric powertrain to develop an e-Rickshaw which was displayed at the Auto Expo in Greater Noida in 2018
Greaves’ electric rickshaw at the Auto Expo 2018, along with its charger
R&D
Through Ampere-RVCE partnership, a joint advanced research will be carried out to develop next generation controller, battery thermal management (GCL IP project), embedded design for connected vehicles and application development for electric mobility.
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