Ampere Electric plans investment of INR 700 crores for e-mobility manufacturing plant in Ranipet, signs MoU with Government of Tamil Nadu

Two years after its first acquisition in e-mobility, Ampere Electric, the wholly owned electric mobility subsidiary of Greaves Cotton Ltd, announced phased investment potential of INR 700 crore over 10 years to set up a world class e-mobility manufacturing plant in Ranipet, Tamil Nadu.  A Memorandum of Understanding (MoU) to this effect was signed by the Company, with the Government of Tamil Nadu, today.  At over 1.4 million square feet, the proposed Ranipet manufacturing plant when ready will be one of the largest state-of-the-art e-mobility manufacturing plants in the country.  Ampere Electric’s Ranipet plant will have the potential to start manufacturing 100,000 units in its first year of operation, and has the potential to scale to 1 million units per annum.  This facility will be operational by 2021, providing 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.  With this, Ampere actively participates in Make-in-India and Atmanirbhar Bharat story of the Government in order to accelerate adoption of clean and sustainable solutions in form of Electric Vehicles. Speaking on this announcement, Nagesh Basavanhalli, Group CEO & MD, Greaves Cotton Limited, said, “This is a historic milestone for Greaves Cotton, as we outline our