Greaves Electric Mobility partners with Abdul Latif Jameel

Abdul Latif Jameel, an independent, family-owned, diversified global investor and operator has announced its commitment to invest in Greaves Electric Mobility, one of India’s leading two-to-three-wheeler mobility players. Abdul Latif Jameel has committed to invest up to $220 million [INR 1700 Crores*] in Greaves Electric Mobility, marking one of the largest investments in the Indian two-to-three-wheeler space to date. Abdul Latif Jameel will initially invest $150 million [INR 1160 Crores*] for a 35.8% fully diluted stake in the company making it the second-largest shareholder in Greaves Electric Mobility. Greaves Electric Mobility is a subsidiary of one of India’s leading diversified engineering businesses, Greaves Cotton Ltd (NSE: GREAVESCOT; BSE: 501455), and offers affordable, cleaner alternatives with credible technology stack and after sales support for personal mobility that are accessible to communities in India. Furthermore, the company has emerged as one of the fast-growing EV brands in the country, with retail sales of Greaves Electric Mobility standing at over 62,000 vehicles for the financial year 2022, which is a 128% increase from the previous year. This venture is anticipated to accelerate Greaves Electric Mobility’s transition into the next phase of growth. In addition, it will also help in enhancing the competitiveness of