Ampere Electric, the wholly-owned electric mobility subsidiary of Greaves Cotton Ltd, announced phased investment of Rs 700 crore over 10 years to set up an e-mobility manufacturing plant in Ranipet, Tamil Nadu.
The company signed a Memorandum of Understanding (MoU) to this effect with the Government of Tamil Nadu on February 16.
At over 1.4 million square feet, the proposed Ranipet manufacturing plant when ready will be one of the largest state-of-the-art e-mobility manufacturing plants in the country, said a press release issues by Ampere Electric.
It will have the potential to manufacture 100,000 units in its first year of operation and to scale to 1 million units per annum. The facility will be operational this year, added the release.
Mr Roy Kurian, COO, E-Mobility Business (2W & 3W), Ampere Electric, said, “We have strengthened our leadership position in e-mobility segment and getting ready to cater to the growing demand of customers, channel partners, both in B2B and B2C segments. The manufacturing facility in Ranipet will help us expand our offerings to an ever increasing customer base not just in India but also in other parts of the world.”