Greaves Cotton seeks investors for EV venture; starts 1-mn capacity unit

Plans to invest Rs 700 cr in the sector over 10 years. With e-scooters, e-rickshaws and e-autos, the company currently operates in 85 per cent of the E-mobility sector

Greaves Cotton, a 165-year-old manufacturing major and the largest supplier of engines to three-wheelers in India, is in talks with financial investors to fund its electric vehicle plans.

Tamil Nadu chief minister M K Stalin inaugurated Greaves Electric Mobility's EV production facility at Ranipet in Tamil Nadu, which has a capacity to make one million electric two-wheelers a year. The company, which is the EV arm of Greaves Cotton, is planning to invest Rs 700 crore in the EV sector over 10 years. With e-scooters, e-rickshaws, and e-autos, the company currently operates in 85 percent of the E-mobility sector.

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