a diesel engine, petrol engines, generators pump sets and construction equipment manufacturer is looking forward to making an investment in battery manufacturing and supply chain for electric vehicles (EVs) in the coming years.
Greaves Cotton to invest in battery manufacturing & supply chain for EV
A 160-year-old Greaves Cotton Ltd an Indian engineering company had obtained a majority stake of 67% stake in an electric scooters manufacturing company, Ampere Vehicles, in August last year.
Greaves Cotton reserved ₹150 crore for EV
The company reserved ₹150 crore for spending on Ampere Vehicles for the next years as it is looking to capitalize on the government’s thrust on EVs which is giving incentives under the FAME 2 scheme.
Currently, the company is working on investing in a battery plant for electric vehicles. It is creating a local network of suppliers.
Nagesh Basavanhalli, MD & CEO, Greaves Cotton
Nagesh Basavanhalli, MD & CEO, Greaves Cotton said that “As part of our next phase of the plan for Ampere, we are committed to building a robust local infrastructure by the partnership or standalone investment, possibly in lithium-ion batteries as well, in a systematic manner over next few fiscals.”
Japan’s Suzuki, Toshiba & Denso investing in India
In India, currently, there is Japan’s Suzuki, along with Toshiba and Denso as partners are investing For manufacturing lithium-ion battery for electric vehicles.
India imports Lithium-ion cells from China
Currently, India imports Lithium-ion cells from China and other South East Asian countries. The imported lithium cells assembling into the battery is being done by some technology which is developed by some domestic electric vehicles manufacturers such as Mahindra Electric, Ather Energy, TVS Motor Company, etc.
Basavanhalli wants to make Ampere vehicles as one of India’s most preferred electric bike brands under Greaves support.
He says, “These numbers continue to grow and sales have seen a threefold increase over the last year as a result of Greaves Cotton’s initiatives under phase 1 to introduce lithium-ion battery-powered two-wheelers and upgrade Ampere’s portfolio from low-speed to high-speed e-bikes.”
EV-e-scooter sales grown from 5,500 units to 15,000 units
The company has provided a large network of exclusive retail outlets which it went from 75 to 120 recently. electric two-wheelers of Ampere is available for retail across over 330 outlets including Greaves own retail stores. The electric scooter sales have grown from 5,500 units in FY 2018 to15,000 units in FY19.
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