Post Unlock 1.0, Greaves Cotton has added around 40 dealerships in its electric vehicle (EV) business, the company said in a press release.
Today with more than 500+ Greaves retail touch-points, the company has emerged as one of largest one-stop shop and mobility enabler for last-mile vehicles. This vision has also strengthened financing business with Greaves Finance, the company said.
It may be mentioned that in the last couple of years, the company has successfully diversified the business from just an automotive player to newer applications in non-automotive and the Cleantech e-mobility domain. This has enabled Greaves to grow consistently and remain steady with minimal impact despite disruptions.
Greaves Cotton said that it is spearheading the electric vehicle adoption in the country by building one of the fastest-growing EV product portfolios under Ampere Electric and expanding its footprint across the country even during post-Covid.
The company recently strengthened its EV portfolio by acquiring 74 per cent stake in e-rickshaw company. With this, the company is ready to fortify its presence in last mile commercial e-mobility domain & provide superior solution to the last mile employment seekers as individual buyers & ecommerce fleet operators with energy efficient e-2 wheelers & e-3 wheelers in cargo & passenger segment.
The aforementioned acquisition of 74 per cent equity stake was made in Bestway Agencies Pvt Ltd, a Noida-based electric three-wheeler company that sells e-rickshaws under the “ELE” brand.
“Ampere” is the brand that represents the e-mobility arm of Greaves Cotton. The business is incorporated under “Ampere Vehicles Pvt Ltd”, a fully-owned subsidiary of Greaves Cotton Ltd.
