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Ampere Electric to invest Rs 700 cr in Ranipet plant
Two years after its first acquisition in e-mobility, Ampere Electric, the wholly-owned electric mobility subsidiary of Greaves Cotton, announced phased investment potential of Rs 700 crore over 10 years to set up a world class e-mobility manufacturing plant in Ranipet. A MoU to this effect was signed by the Company, with the Tamil Nadu on Tuesday.
By
migrator
migrator
Chennai
At over 1.4 million sq ft, the proposed plant, when ready will be one of the largest e-mobility manufacturing plants in the country. Ampere Electric’s Ranipet plant will start manufacturing 100,000 units in its first year of operation, and it has the potential to scale to 1 mn units per annum.Â
This will be operational by 2021, providing employment opportunities to the local population. To be built on the principles of Industry 4.0, the Ranipet Plant will have advanced automation process for superior manufacturing capabilities.
EV TAKE-OFFÂ
*Proposed Ranipet facility has potential capacity up to 1 million units per annumÂ
*Greaves already invested Rs 250 cr in acquisition of Ampere and ELE e3W and their scale up since January 2019Â
*This facility is likely to be operational by 2021
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