The Ranipet plant will have the capacity to produce 120,000 units by the end of this fiscal year
The electric mobility arm of Greaves Cotton Limited, Greaves Electric Mobility, has inaugurated its largest EV production facility along with another E-Mobility firm in Ranipet, Tamil Nadu.
The plant is part of the INR 700-crore investment roadmap announced by the company to expand its growing share in the Indian electric vehicle market. The new manufacturing plant is also in accordance with the flagship initiatives of the Government such as Make in India and Atmanirbhar Bharat to promote indigenous capabilities in manufacturing, the company said.
The Ranipet plant will have the capacity to produce 120,000 units by the end of this fiscal year. It can be gradually ramped up to 1 million units in the near future. The facility will be operational with 70 percent women in the workforce.
Nagesh A Basavanhalli, MD and Group CEO, Greaves Cotton Limited, said, “This EV megasite will help us meet the rising needs of discerning customers and fleet purchasers in the last mile mobility market as we expand our capacities to produce a million EVs a year in future. This Plant will also allow us to nurture a highly skilled workforce and generate employment for the local community including women who form 70% of our workforce.”
According to Pooja Kulkarni, IAS. MD and CEO, Tamil Nadu Guidance Bureau, this new facility is a testimony of the industry-government partnership in positioning the state as the EV capital of India.
“We are delighted to welcome Greaves Electric Mobility to this flourishing ecosystem. The skilled workforce from Ranipet and surrounding region will immensely benefit by being a part of this future mobility facility. This facility will further strengthen the ecosystem with a wide pool of technical personnel, strong R&D capabilities, ancillary auto components, and manufacturing experience,” she added.
The compny further said that the plant on 35 acres is built to preserve the green surroundings in an industrial centre of Tamil Nadu. It will serve as an electric mobility hub for both the domestic and the export markets.