Ampere Electric has announced phased investment potential of Rs 700 crore over 10 years to set up a world class e-mobility manufacturing plant in Ranipet, Tamil Nadu.
The company, which is the wholly owned electric mobility subsidiary of Greaves Cotton Ltd, signed a Memorandum of Understanding (MoU) in this regard with the Government of Tamil Nadu, on Tuesday.
To come up at over 1.4 million square feet, the Ranipet manufacturing plant when ready will be one of the largest e-mobility manufacturing plants in the country.
Talking about the development, Nagesh Basavanhalli, Group CEO and MD, Greaves Cotton Limited, said, “This is a historic milestone for Greaves Cotton, as we outline our investment to transform the clean mobility landscape in India.”
He added: “This plant is dedicated to the State of Tamil Nadu and our Nation. This move aligns with our mission of decarbonising last mile transportation for a cleaner planet and uninterrupted mobility.”
The Ranipet plant of Ampere will have the potential to commence manufacturing 100,000 units in its first year of operation, and has the capacity to scale to 1 million units per annum.
This unit, which is to be operational by 2021, will provide employment opportunities to the local population. To be built on the principles of Industry 4.0, the Ranipet Plant will boast an advanced automation process for superior manufacturing capabilities.
According to Roy Kurian, COO, E-Mobility Business (2W & 3W), Ampere Electric, “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,” he added.
It may be recalled that Ampere posted a 35% growth in sales volumes for Q3 FY21 amidst a challenging business environment triggered by the Covid-19 pandemic.
(With inputs from Automotive Lead Research Team)
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