Ampere acquires Noida-based E-three-Wheeler company Bestway Agencies

With this, Ampere will expand its presence in the disruptive e-Rickshaw segment to become an integrated last-mile e-mobility player with a strong presence in e-two-wheelers and e-three-wheelers

Ampere Vehicles, a wholly-owned electric mobility subsidiary of Greaves Cotton Ltd, today announced the acquisition of Noida-based E-3Wheeler company Bestway Agencies Pvt Ltd (BAPL). Through this acquisition, Ampere, the  e-mobility arm of Greaves Cotton, will expand its presence in the e-rickshaw segment. The Noida-based firm sells e-rickshaws under the popular ELE brand.

For the first phase of the acquisition, an upfront cash consideration of Rs 7 crore is being made for 74 per cent stake, which includes share purchase and non-compete and non-solicit fees. The payment is subject to completion of pre- and post-closing obligations. Under the second-phase, expected in April