Ampere Electric plans INR 700 crore investment over 10 years in Tamil Nadu
Ampere Electric has planned an investment of INR 700 crore spread over ten years for setting up of EV manufacturing plant in Tamil Nadu…
Ampere Electric, an electric mobility arm of Greaves Cotton, has planned an investment of INR 700 crore spread over ten years for setting up of manufacturing plant at Ranipet in Tamil Nadu.
In order to speed up the use of clean and sustainable electrical vehicles solutions, Ampere Electric has participated actively in Make in India and Atmanirbhar Bharat missions, and has signed a MoU with the Government of Tamil Nadu, for this EV manufacturing plant.
The proposed world-class facility spreading over 14 lakh square feet will place it amongst the largest EV manufacturing plants in India. Ampere Electric expects the completion of the facility by this year.
The manufacturing facility in operation is expected to manufacture 1 lakh unit during the first year. While the capacity will be potentially scalable up to 10 lakh units annually, according to the statement released by the company.
In addition, the Ranipet plant would have an advanced automation process for superior production capabilities to build on the concepts of Industry 4.0, the release pointed out.
The statement informs that since January 2019, an investment of INR 250 crore has been made by Greaves Cotton to acquire Ampere and E-three wheeler company ELE.
“This is a historic milestone for Greaves Cotton, as we outline our investment to transform the clean mobility landscape in India…” said Nagesh Basavanhalli Greaves Cotton Group CEO and MD.
He further added that the step synchronises well with the company’s mission of decarbonisation of the last mile transportation for a clean planet and nonstop mobility.
Roy Kurian, chief operating officer of Ampere Electric’s E-Mobility (2- and 3-wheelers) Division, said, ‘We’ve strengthened the e-Mobility segment’s leadership position and are ready to meet the growing demands of customers, channel partners in the B2B segments (business-to-business) and in the B2C (business-to-consumer)segments.’
He added that the Ranipet facility would add more value to the company’s offerings while also help toward increasing the customer base in other parts of the world apart from India.
Currently, the company has more than 500 dealerships and over 75,000 customer base in addition to more than 50 B2B buyers.
