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Greaves’ largest EV production facility opens in Ranipet
Greaves Electric Mobility, the electronic mobility arm of Greaves Cotton, on Tuesday announced the opening of its largest electric vehicle production facility in Ranipet.
The facility was inaugurated by Tamil Nadu CM MK Stalin and Minister of State for Industries, Thangam Thennarasu.
The company said the 35-acre plant is located in the industrial hub of the state and will serve as an electronic mobility hub for both the domestic and export markets.
It added the facility is part of the Rs 700 crore investment plan announced by the company earlier this year to further boost its market share in the rapidly expanding domestic EV space. Last month, the company sold more than 7,500 units.
The company said the manufacturing facility, which contains additional assembly lines, will produce 1 million vehicles annually. “Through Greaves Electric Mobility, we are solving real-world mobility challenges for ordinary Indians. It is therefore not surprising that our e-mobility business saw growth of over 48 percent from the first half of FY21 to the first half of FY22,” said Nagish Pasavanhali, MD-Group CEO.
“TN has now become the preferred destination for EV manufacturers. With a host of companies across the electric vehicle supply chain located here and in the process of setting up their operations, the state has emerged as the electric vehicle capital of India,” said Pooja Kulkarni, MD- CEO, Guidance TN. This facility would enhance the ecosystem to operate holistically.