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Ampere Electric, the wholly-owned e-mobility subsidiary of Cotton Greaves Ltd, has announced a 10-year phase-wise investment of Rs 700 crore, towards a new world-class production facility. The company is said to set up its e-mobility production unit in Ranipet, Tamil Nadu after signing an MoU (Memorandum of Understanding) with the state government.
According to the company, the new production facility will be operational sometime during the later-half of 2021. Once operational, the plant will have an area of 1.4 million square feet, making it the largest state-of-the-art e-mobility production facility in the country.
The initial years of operation, the factory will have a production capacity of 1 lakh units per annum. However, Ampere Electric stated that the facility has the potential to scale up to 1 million capacity per annum, if and when required. The plant at Ranipet is said to use advanced automation processes, ensuring superior manufacturing capabilities.
Nagesh Basavanhalli, Group CEO & MD, Greaves Cotton Limited, said,
"This is a historic milestone for Greaves Cotton, as we outline our investment to transform the clean mobility landscape in India. This plant is dedicated to the State of Tamil Nadu and our Nation. This move aligns with our mission of decarbonising last-mile transportation for a cleaner planet and uninterrupted mobility."
Roy Kurian, COO, E-Mobility Business (2W & 3W), Ampere Electric, said,
"We have strengthened our leadership position in the e-mobility segment and 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."
The announcement for the setup of a new large-scale manufacturing facility comes on the back of an impressive sales performance. The company registered a 35 per cent growth in sales volume in Q3 FY21, even amidst the challenging conditions caused by the pandemic.
Ampere Electric is one of the fastest-growing electric mobility brands in the country. The company currently has over 500 dealerships, 75000+ customer base and more than 50 B2B buyers.
Thoughts On The New Ampere Electric Production Facility
Ampere is the latest e-mobility brand in India to announce the setting up of a new large-scale manufacturing facility. The new plant will help Ampere take on the likes of Ather Energy and the upcoming Ola Electric offerings, both of whom have also set up large production units in India.