E-mobility firm Ampere Electric, the wholly-owned electric mobility subsidiary of Greaves Cotton Ltd, today announced a phased investment potential of Rs 700 crore over 10 years to set up an e-mobility plant in Tamil Nadu.
A Memorandum of Understanding (MoU) to this effect was signed by the company today with the Government of Tamil Nadu.
Spread over 1.4 million square feet, the proposed plant at Ranipet, near Chennai will be one of the largest e-mobility manufacturing plants in the country.
It will have a manufacturing capacity 100,000 units in its first year of operation, and scalable to one million units a year subsequently.
The unit will be operational by 2021, providing employment to the local population. To be built on the principles of Industry 4.0, the Ranipet Plant will have an advanced automation process for superior manufacturing capabilities, said the company.
Nagesh Basavanhalli, Group CEO & MD, Greaves Cotton Limited, said, “this move aligns with our mission of decarbonising last mile transportation for a cleaner planet and uninterrupted mobility.”
Roy Kurian, COO, E-Mobility Business (2W & 3W), Ampere Electric, said, “we have strengthened our leadership position in the 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.”