Ampere Electric Announces Strategic Stake In Electric Three-wheeler Maker MLR Auto


Estimated Reading Time: 2 minutes

Ampere Vehicles, the E-Mobility arm of Greaves Cotton Limited, and one of the leading players in the E-2W and E-3W space expanded its play in the last mile mobility ecosystem with the announcement of a strategic stake in L5 E3W manufacturer, MLR Auto. Investment in MLR Auto reflects Ampere’s agility and commitment in responding to emerging needs of its 3W customers for disruptive cost economics products that enhance daily savings and transform ease of driving with emission free and noise free vehicles. The company accelerates pace of electrification in mass mobility segment and stands to gain from host of incentives under Fame-II subsidy with the added advantage of various stage government incentives. Clean mobility alternatives with zero emissions based solutions will significantly cut carbon load, improving air quality, reduce pollution related disorders and make cities much better to live in the long run.

Commenting on this occasion, Mr. BVR Subbu, Chairman of Ampere Electric, observed, “Our market research and analysis suggests that in the top ten urban 3W markets, passenger vehicles will shift rapidly to EVs and by 2024, 100% of the segment will be electric. This comes from an overwhelming consumer preference for quieter emission free vehicles as consumer habits evolve, particularly those relating to the mobile consumption of data and entertainment. At Ampere, we are getting ready to participate in this high growth segment with a range of affordable and reliable products.”

ALSO READ  EVgo Continues Network Expansion and Push for “Electric for All” in EV Charging with New Fast Charging Station in Seattle

Speaking on this announcement, Mr. Nagesh A Basavanhalli, MD and Group CEO of Greaves Cotton and Director of Ampere Electric, mentioned, “With this strategic stake in MLR Auto, Ampere Electric gets ready to operate as full range last mile electric vehicle company with mass mobility solutions in both E-2W & E-3W segment. Our commitment to grow the clean last mile with wide variety of consumer friendly solutions continues to gather momentum.”

Speaking on joining hands with Ampere, Mr Lokeswara Rao Mullapudi, Director MLR Auto stated, “We are excited to be part of the Ampere family as we both share a common vision to work towards sustainable and affordable mobility solutions. We are confident that our combined strengths will help achieve new milestones of growth in fast growing and promising space of electric vehicles.”

Increasing urbanization & exponential growth of e-commerce will spur last mile delivery demand. Ampere is ready to cater this growth with application-specific solutions for B2B fleet logistics solutions. The Company recently announced a mega investment in EV at Ranipet, Tamil Nadu, with a capacity of up to one million E-2W in phases and with a commitment to invest over INR 700 Cr.

ALSO READ  Shadowfax Partners With Hero Electric To Make Its 25% Fleet Electric

Ampere recently achieved the record milestone of 100,000 electric vehicles sold in 400 towns, spearheading the country’s last mile mass mobility needs with electric vehicles.
Ampere Electric backed by Greaves has been one of fast growing brands with comprehensive EV ecosystem support developed to cater the growing needs of discerning EV buyers. Besides energy efficient products, the company has invested in complete
aftermarket support, retail financing solutions with tie-ups from various partners. Ampere recently announced 500 exclusive retail touchpoints for its E-2W & E-3W network. Greaves now has an unparalleled retail footprint of nearly 6,500 touchpoints; solid support of 12,000 mechanics & comprehensive Greaves Retail network backed by multibrand sales, service & mobility enablement solutions.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.