Leading electric two and three-wheeler manufacturer Greaves Electric Mobility, an arm of Greaves Cotton Ltd, is working on a new set of products, which will include a high-speed electric scooter and an electric three-wheeler cargo vehicle, to strengthen its position as an integrated player in the last mile transportation segment.

Two and three-wheelers make about 84 per cent of the Indian last mile mobility segment. “Our intent has been to be a strong player in this segment with a range of electric two and three-wheelers. We are now in a good position because we have now proven product platforms and the learnings from customers. These will only make us better going forward,” Nagesh A Basavanhalli, MD and Group CEO Greaves Cotton Ltd, said at its electric vehicle manufacturing facility at Ranipet, about 115 km from Chennai.

With the establishment of its new electric vehicle factory at Ranipet, which can be ramped up to produce 1 million vehicles a year over phases from about 120,000 units now, and higher localisation levels in its electric products, strong retail presence through its Greaves Retail, the company hopes that it is well-positioned to benefit from growing acceptance of electric vehicles in the country.

Robust demand

Last month, the Greaves Electric Mobility (erstwhile Ampere Vehicles Private Ltd) sold more than 10,000 units, including 9,000+ electric two-wheelers. “The market demand for our electric vehicle has been robust. We expect the trend to continue if there is no big surge in the third wave of the pandemic,” said Basavanhalli.

Ever since the acquisition of Ampere, our teams have been able to improve on product and pricing in the past 3 years. “When we acquired it was 70 per cent lead-acid products and the average selling price was ₹35,000. Now, about 80 per cent is lithium-iron based and the average selling price is more than ₹70,000 by transitioning into the high-speed scooter segment, which will be our core,” he added.

Also read: Greaves Electric Mobility opens EV factory at Tamil Nadu’s Ranipet

“We will come out with a new high-speed scooter and our positioning will be affordable mobility. Under this, we will offer high speed, lithium-battery powered products. But we may not play in the sub-₹1 lakh category. More details about the new products will be announced in a quarter or two,” said Basavanhalli.

For e-commerce segment

He also indicated that the company will soon come out with a new electric cargo three-wheeler with a carrying capacity of about 500 kg, targeting categories such as e-commerce segment.

Its electric two-wheelers are sold under Ampere brand, while e-rickshaws are sold under ELE brand, which was acquired by Greaves in July 2020. To further strengthen its 3W business, it picked up 26 per cent in Hyderabad-based MLR Auto, which makes electric three-wheelers, a few months ago. With these three categories, the company hopes to emerge as a strong player in the last mile segment.

The company, on Monday, opened an Ampere Experience Centre at the Ranipet factory campus. The move is part of its objective to provide a phygital experience to the prospective buyers of its electric two-wheelers.

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