Electric vehicle manufacturer Ampere to invest in Ranipet
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The firm proposes to invest ₹700 crore over 10 years at an e-mobility manufacturing facility it would arrange, a press launch stated
Electric vehicle manufacturer Ampere Electric will arrange an e-mobility manufacturing facility at Ranipet. Ampere Electric, which was acquired by Greaves Cotton two years in the past, has signed a Memorandum of Understanding (MoU) in this regard with the Tamil Nadu authorities.
According to a press launch, the corporate proposes to invest ₹700 crore over 10 years on the facility. With greater than 1.4 million sq.ft, the plant can be one of many largest state-of-the-art e-mobility manufacturing vegetation in the nation, when commissioned.
The press assertion stated that Ampere Electric’s Ranipet plant can have the capability to manufacture one lakh models in its first yr of operation and the potential to scale up to a million models in a yr. This facility is anticipated to be operational in 2021.
Nagesh Basavanhalli, Group CEO and MD of Greaves Cotton, stated, “This is a historic milestone for Greaves Cotton, as we define our funding to remodel the clear mobility panorama in India…This transfer aligns with our mission of decarbonising final mile transportation for a cleaner planet and uninterrupted mobility.
Roy Kurian, COO of E-Mobility Business (two and three-wheelers), Ampere Electric, stated in the discharge, “We have strengthened our leadership position in the e-mobility segment and [are] 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.”
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