Greaves Cotton to acquire majority stake in Ampere

This acquisition will accelerate the development of clean energy technology solutions for mobility needs of passengers and small businesses. 

Ampere is a leading brand in the last mile mobility electric vehicles segment. It has in-house capabilities in designing, developing, manufacturing & marketing EVs.

Greaves reaches 5 million customers (of aftermarket spare parts) per month through its network of 5000+ retail outlets. The newly launched Greaves Care network services nearly 7000+ vehicles per month, with plans to substantially ramp-up in the coming years. Greaves will be able to leverage its distribution, aftermarket and service strengths to help Ampere grow more rapidly.

Nagesh Basavanhalli, MD & CEO, Greaves Cotton Limited, said, “With this strategic acquisition, we will be able to address a wider range of customer segments with clean energy mobility solutions. Greaves and Ampere will be a synergistic combination of our excellence in frugal engineering & manufacturing with a new age electric mobility solutions company.”