Now Ampere Electric Commits Rs 700 Crore, to set up EV Plant in TN

Ampere Electric plans to set up a new manufacturing plant in Tamil Nadu and will invest Rs 700 crore into the facility over the next 10 years

Electric two-wheeler manufacturer Ampere Electric, the e-mobility subsidiary of Greaves Cotton, has announced its plans to set up a new EV manufacturing plant in Ranipet in the state of Tamil Nadu. The firm has also committed to investing Rs 700 crore into the facility in a phased manner over the next 10 years.

The firm stated that it has signed a Memorandum of Understanding (MoU) to this effect has been signed with the Government of Tamil Nadu. Ampere Electric Rs 700 Crore

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. The 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.

Ather Energy Announces Investment of Rs 635 Crore Over Next 5 Years

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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.”

Ampere Electric has a fast-growing base of 500+ dealerships, 75000+ customer base and 50+ B2B buyers. And this latest announcement rides on the back of a 35 percent growth in Ampere sales volumes for Q3 FY21 amidst a challenging business environment triggered by the Covid pandemic.

Commenting on the launch of this new facility, newly appointed COO, E-mobility Business (2W & 3W) – Roy Kurian, said, “we have strengthened our leadership position in 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.”

Recently, Ampere’s market competitor Ather Energy had also announced plants to make an investment worth Rs 635 Crores over the next five years to scale up the production in its EV manufacturing facility in Hosur, Tamil Nadu. The company had begun operations from its mega-factory in Hosur from January 2, 2021. Since then, it has begun deliveries in Mumbai, Pune, Ahmedabad, Bangalore, Chennai, and Hyderabad, and more deliveries planned in a phased manner across 21 other cities by Q1, the company claims.