Greaves completes acquisition of Ampere Vehicles

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

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

Mr. Nagesh Basavanhalli, Managing Director and Chief Executive, Greaves Cotton, 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 order to develop Ampere country's most preferred brand in EV, 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 added.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.