Ampere rolls out its 50,000th electric two-wheeler from the company's EV Megasite in Ranipet

Ampere, the electric two-wheeler brand under Greaves Electric Mobility, a wholly-owned electric mobility subsidiary of Greaves Cotton Ltd, has rolled out its 50,000th Two Wheeler Electric Scooter off the assembly line at the company's EV megasite in Ranipet (Tamil Nadu) from its commencement of operations. This remarkable milestone has been fuelled by the conscious shift of consumers towards sustainable and affordable electric mobility, growing product awareness, increased fuel prices and heightened cognisance about environmental issues.

The Ranipet EV manufacturing plant was set up with the goal of disrupting the Indian transportation landscape and creating an affordable and sustainable ecosystem for clean last-mile mobility in the country. The production achievement of 50,000 electric vehicles at this facility is the realisation of this vision and stands testament to the trust that customers have in Ampere and its products. Furthermore, the recent investment by Abdul Latif Jameel in Greaves Electric Mobility is a significant step forward to driving EV technological advancement and achieving India's target of growing the number of electric vehicles in the country to 30% by 2030.

Speaking on this milestone, Sanjay Behl, CEO & Executive Director, Greaves Electric Mobility, said, "Our EV megasite was developed with the intent of accelerating the ecologically-virtuous cycle that our planet deserves, and it is incredible that we have reached the 50,000 mark. Owing to the increased customer awareness, preference for green mobility and a host of incentives offered by different states, we have hit the inflection point for EVs to take off and are optimistic about mass EV adoption in the country.

We are extremely proud of the workforce at our Ranipet facility - which consists of over 70% women - for their enormous contribution in achieving this great milestone through their hard work and dedication."

Currently, Greaves Electric Mobility (GEM) manufactures electric two-wheelers under the brand name of Ampere Vehicles and three-wheeler vehicles (E-Auto and E-Rickshaw) under the mobility brands ELE and Teja respectively. Ampere is one of India's fastest growing electric vehicle brands, with a strong presence in both the B2C and B2B segments and possesses a portfolio comprising multiple products that are safe, reliable, affordable, and easy to operate. With over 1.5 lakh happy customers across the country, the company is upskilling mechanics to ensure that they are prepared to satisfy the servicing demands of EV clients in the future, thereby creating opportunities and promoting consumer convenience.

Shares of Greaves Cotton Limited was last trading in BSE at Rs. 143.30 as compared to the previous close of Rs. 143.15. The total number of shares traded during the day was 84299 in over 1340 trades.

The stock hit an intraday high of Rs. 146.55 and intraday low of 142.40. The net turnover during the day was Rs. 12219198.00.

Source : Equity Bulls

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GreavesCotton INE224A01026 Ampere ElectricTwoWheeler GreavesElectricMobility 50000Milestone Ranipet