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Greaves Electric Mobility on Saturday said it has fully acquired Bestway Agencies Pvt Ltd (BAPL) which sells e-rickshaws under the ELE brand.
The company, which is the e-mobility arm of Greaves Cotton, has acquired 100 per cent stake in BAPL.
Last year in July, Greaves had acquired 74 per cent stake in the company.
Also see: Greaves Cotton announces entry in multi-brand EV retail segment
“With this strategic acquisition, we have strengthened our position to become one of largest players now catering to 85 per cent of the last mile mobility segment,” Nagesh A Basavanhalli, CEO and MD, Greaves Cotton Group, said in a statement.
E-rickshaw is one of the largest and fastest-growing categories of electric vehicles in India and offers sustainable, reliable, noise-free, and most important cost-effective mobility to customers.
It also increases the daily earning potential of the drivers — migrants and unemployed youth.
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