New Delhi: Greaves Electric Mobility on Saturday said it has fully acquired Bestway Agencies Pvt. Ltd (BAPL) which sells e-rickshaws under the ELE brand. The company, which is the e-mobility arm of Greaves Cotton Ltd, has acquired 100% stake in BAPL.
Last year in July, Greaves had acquired 74% stake in the company.
"With this strategic acquisition, we have strengthened our position to become one of largest players now catering to 85% of the last mile mobility segment," Greaves Cotton Group CEO and MD Nagesh A Basavanhalli said in a statement.
E-rickshaw is one of the largest and fastest-growing categories of electric vehicles in India and offers sustainable, reliable, noise-free and most important cost-effective mobility to customers.
It also increases the daily earning potential of the drivers - migrants, unemployed youth.
Last year in July, Greaves had acquired 74% stake in the company.
"With this strategic acquisition, we have strengthened our position to become one of largest players now catering to 85% of the last mile mobility segment," Greaves Cotton Group CEO and MD Nagesh A Basavanhalli said in a statement.
E-rickshaw is one of the largest and fastest-growing categories of electric vehicles in India and offers sustainable, reliable, noise-free and most important cost-effective mobility to customers.
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