Mumbai
Ampere Vehicles - a part of Greaves Cotton and one of the leading players in the E-2W and E-3W space - has expanded its profile in the last mile mobility ecosystem by buying a strategic stake in L5 E-3W manufacturer, MLR Auto.
This investment
is a reflection of the company’s agility and commitment as a response to the
emerging needs of its 3W customers. The aim of the company is to accelerate the
pace of electrification in the mass mobility segment. According to Subbu,
Chairman of Ampere Electric, as per the market research and analysis passenger
vehicles will shift rapidly to EVs by 2024 in the top ten urban 3W markets.
Here, 100% of the segment will be electric. He also said that consumers have
started to demand quieter emission-free vehicles as their habits are evolving,
especially those who relate to the mobile consumption of data and
entertainment. He also mentioned that the company is trying to participate in
the high growth segment with a range of affordable and reliable products.
According to
Nagesh A Basavanhalli, MD and CEO, Greaves Cotton and Director of Ampere
Electric, with this strategic stake in MLR Auto, the company is getting ready
to function as a full range last-mile electric vehicle company by coming up
with mass mobility solutions in both E-2W & E-3W segment.
According to
Lokeswara Rao Mullapudi, Director, MLR Auto, the team is excited to join the Ampere family who shares the same vision to work
towards sustainable and affordable mobility solutions. He also said that with
the combined efforts the two can achieve new milestones of growth in
fast-growing and promising space of electric vehicles.
Source – Press release of "Ampere"
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