Ampere Acquires 74 Percent Stake In Bestway: Company Plans To Enter E-Rickshaw Space

Bangalore based electric two-wheeler manufacturer, Ampere Vehicles, announced the acquisition of Noida based E-3Wheeler company Bestway Agencies Pvt. Ltd. (BAPL). The two-wheeler company has bought 74 per cent stake in BAPL.

Ampere Acquires 74 Percent Stake In Bestway E-Rickshaw Company: Details

Bestway is known for its E-Rickshaws that are currently sold under the popular ELE brand. With the acquisition, the company aims to increase its presence in the fast-developing E-Rickshaw segment. It also aims to become an integral last-mile electric mobility company with a strong presence in both two-wheeler and three-wheeler space.

Ampere Acquires 74 Percent Stake In Bestway E-Rickshaw Company: Details

According to the company, electric rickshaw is one of the largest and fastest-growing segments in India. It and offers environmentally friendly and cost-effective mobility to customers which will also increase the earnings for the driver community.

Ampere Acquires 74 Percent Stake In Bestway E-Rickshaw Company: Details

Nagesh Basavanhalli, MD & CEO of Greaves Cotton Ltd. and Director, Ampere Vehicles, said, "Ampere is one of India's fast-growing and comprehensive EV ecosystem player that is creating value in the last mile mobility ecosystem. The acquisition will further strengthen Ampere's relationship with the Indian consumer by adding last-mile mobility products and services for an uninterrupted journey, enhancing productivity across E-2W & E-3W spectrum. Combining Ampere's and Bestway's expertise will help in further boosting the company's growth and strengthen market positioning as a leading E-Mobility business in India."

Ampere Acquires 74 Percent Stake In Bestway E-Rickshaw Company: Details

Apart from catering to direct customers, the company aims to target other business with requirements for electric three-wheelers. With this acquisition, Ampere will also be able to offer a complete product portfolio to its B2B customers for both people and cargo mobility.

Ampere Acquires 74 Percent Stake In Bestway E-Rickshaw Company: Details

Speaking about Bestway's e-rickshaws, it has been among the top three brands in markets of Eastern India and Eastern UP. The Noida-based company has a strong customer base in the mass market passenger segment. Also, It has recently entered new segments of cargo carrier and B2B commercial mobility with custom-built applications.

Ampere Acquires 74 Percent Stake In Bestway E-Rickshaw Company: Details

BVR Subbu, Chairman, Ampere Vehicles, said, "Within two years of Ampere acquisition by Greaves, the company has grown phenomenally and has achieved several milestones thereafter to become a preferred and affordable E-2Wheeler brand under personal mobility segment in the country. With the acquisition of Bestway, Ampere has now embarked on a new journey to provide clean, safe and sustainable shared mobility solutions through E-3Wheeler and become a leading player in building and strengthening the country's EV ecosystem."

Ampere Acquires 74 Percent Stake In Bestway E-Rickshaw Company: Details

In related news, Ampere recently launched its flagship electric scooter called the Magnus Pro. We have had the chance to ride the electric scooter and bring to you the initial impressions. To know more about the first ride review of the Ampere Magnus Pro electric scooter — click here.

Ampere Acquires 74 Percent Stake In Bestway E-Rickshaw Company: Details

Thoughts About The Ampere Acquiring Stakes In Bestway To Enter E-Rickshaw Space

The electric vehicle growth in the commercial vehicle segment is at a rapid space with more products cropping up from various start-ups and mainstream auto manufacturers. This has led to companies increasing its presence in EV space particularly by catering to the rising demand for electric rickshaws.

Most Read Articles

English
Read more on: #auto news
Article Published On: Tuesday, July 7, 2020, 12:38 [IST]
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Drivespark sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Drivespark website. However, you can change your cookie settings at any time. Learn more