Greaves Electric Mobility on November 23 said the company’s largest EV production facility in Tamil Nadu was formally inaugurated by the state Chief Minister, Mr. MK Stalin.
The Chief Minister, along with the Industries Minister Mr. Thangam Thenarasu, inaugurated the factory at Ranipet through virtual platform.
The 35-acre plant, built to preserve the green terrain surrounding the site, is located in the industrial centre of Tamil Nadu and will serve as an electric mobility hub for both domestic and export markets, said a press release issued by the e-mobility arm of Greaves Cotton Limited.
The plant, said the release, is part of the Rs 700-crore investment roadmap announced by the company to expand its growing share in the electric vehicle market.
It will have the capacity to produce 1,20,000 units by end of this fiscal year which will be gradually ramped up to 1 million units.
On the occasion, Mr Nagesh A Basavanhalli, MD and Group CEO, Greaves Cotton Limited, said, “This EV mega-site will help us meet the rising needs of discerning customers and fleet purchasers in the last-mile mobility market as we expand our capacities to produce a million EVs a year in future.”