Ampere Vehicles, the e-mobility arm of Greaves Cotton Limited, expanded its play in the last-mile mobility ecosystem with the announcement of a strategic stake in e-3W manufacturer MLR Auto.
Investment in MLR Auto reflects Ampere’s agility and commitment in responding to emerging needs of its 3W customers, said a press release.
Mr. BVR Subbu, Chairman of Ampere Electric, said, “Our market research and analysis suggests that in the top ten urban 3W markets, passenger vehicles will shift rapidly to EVs and by 2024, 100 pc of the segment will be electric.” At Ampere, he said, “we are getting ready to participate in this high-growth segment with a range of affordable and reliable products.”
Mr. Nagesh A Basavanhalli, MD and Group CEO of Greaves Cotton and Director of Ampere Electric, said, “With this strategic stake in MLR Auto, Ampere Electric gets ready to operate as full range last-mile electric vehicle company with mass mobility solutions in both E-2W & E-3W segment.”
Speaking on joining hands with Ampere, Mr Lokeswara Rao Mullapudi, Director, MLR Auto, stated, “We are excited to be part of the Ampere family as we both share a common vision to work towards sustainable and affordable mobility solutions.”