Companies

Greaves completes acquisition of Ampere Vehicles

Our Bureau Coimbatore | Updated on November 15, 2019 Published on November 15, 2019

With the acquisition of the entire holding of Hemalatha Annamalai, founder and Chief Executive of Ampere Vehicles Pvt Ltd (through secondary purchase), the company (Ampere) has now become a wholly-owned subsidiary of Greaves Cotton.

Ampere Vehicles is now part of the e-mMobility division of Greaves Cotton, a diversified engineering company.

Nagesh Basavanhalli, Managing Director and Chief Executive, Greaves Cotton, in a statement said that the acquisition was part of Greaves’ long-term strategy to strengthen and expand its presence in the last-mile e-mobility space. Greaves would leverage its position as a leader in providing last-mile solutions by playing a pivotal role in enhancing the pace of India’s transition to electric mobility.

“With Ampere’s acquisition, we are now poised to emerge as one of the fastest-growing electric two-wheeler (e2w) player in the market,” he said.

In the next phase of the planned initiatives to make Ampere India’s most preferred EV brand, Greaves would continue to innovate towards greater design efficiencies and seek to build strategic partnerships to enable rapid localisation of the production and support ecosystem, he said.

Published on November 15, 2019
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