Electric Mobility Company Ampere Electric has announced a phased investment potential of Rs 700 crore over 10 years to set up an e-mobility manufacturing plant in Ranipet, Tamil Nadu.
“The company has also signed a Memorandum of Understanding (MoU) with the Tamil Nadu Govt today,” Ampere Electric in its statement said.
“The Ranipet plant will have the potential to start manufacturing 100,000 units in its first year of operation and has a potential to scale to 1 million per unit,” the statement said.
Speaking in the 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 decarbonizing last-mile transportation for a cleaner planet and uninterrupted mobility.”
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 the e-mobility segment and getting ready to cater to the growing demand of customers, channel partners, both in B2B and B2C segments. The manufacturing the 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.”