Greaves Electric Mobility, the e-mobility arm of Greaves Cotton Ltd, has launched its largest EV production facility in Ranipet, Tamil Nadu.
The 35-acre plant, inaugurated by the Chief Minister of Tamil Nadu, MK Stalin, and Minister for Industries, Government of Tamil Nadu, Thangam Thenarasu, will serve as an electric mobility hub for both domestic and export markets.
The Ranipet plant will have capacity to produce 120,000 units by end of this fiscal year and gradually ramp up to 1 million units in the near future. The facility will be operational with 70 per cent women in the workforce.
The plant is part of the ₹700-crore investment roadmap announced by the company to expand its growing share in the Indian electric vehicle market.
The company says it is currently enjoying the fastest growing market share in a keenly contested electric mobility segment. The new manufacturing plant is also in accordance with flagship initiatives of the Government such as Make in India and Atmanirbhar Bharat to promote indigenous capabilities in manufacturing, according to a statement.