Greaves e-mobility clocks 101% growth, sells 10,000 units in December

Author : Pankaj Singh | Published Date : 2022-01-03 

Greaves Cotton's e-mobility branch, Greaves Electric Mobility, announced on Sunday that it sold over 10,000 vehicles in December 2021. Sources claim that the company’s e-three-wheeler segment has recorded 101% growth from the previous year.

Greaves Electric Mobility maintains its market-leading position in both the E-2W and E-3W categories. Its e-two-wheeler arm Ampere reported an almost 6-fold revenue increase in December 2021 as compared to the same month last year. Meanwhile, the E-3W division experienced a 101%increase in volume.

It is worth noting that the company's October-December quarter in 2021 was notable for multiple reasons. Along with the introduction of the massive EV factory in Ranipet, it bought a 100% stake in e-3-wheeler firm ELE (e-rickshaws) and finalized the purchase of a 26% stake in another e-3-wheeler company MLR Auto, which is also known as the Teja brand.

Ampere also recently announced the debut of its EV Mega site, which contributed to the better growth numbers in December.

Roy Kurian, Chief Operating Officer at Ampere, was reportedly quoted saying that their e-2W division has had a lot of success as shown by the sales performance in December 2021. Magnus EX, which was recently launched, has also received a lot of positive feedback from clients across the country.

According to the company, Magnus EX, recently announced a big family e-scooter that delivers more than 100 km range on a single charge with an innovative detachable lithium-ion battery. This scooter is garnering greater preference among consumers, especially in light of the recent gasoline price increases.

Last month, Greaves e-Mobility launched its largest EV manufacturing facility worth USD 95 million in Ranipet, India, which is aimed to disrupt the mobility sector and promote a positive revolution in the way Indians commute through the best-in-class Ampere electric scooters.


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Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

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