Chennai: Engineering company, Greaves Cotton announced the completion of its acquisition of entire shareholding of Ms Hemalatha Annamalai in Ampere Vehicles Pvt Ltd through secondary purchase, thereby acquiring absolute control in its subsidiary Ampere Vehicles Pvt Ltd. This is part of Greavesā long-term strategy to strengthen and expand its presence in last-mile e-Mobility space that is seeing significant interest from government and commuters alike.
“Greaves Cotton is looking to leverage its position as the leader in providing last mile solutions by playing a pivotal role in enhancing the pace of Indiaās transition to electric mobility,” said MD and CEO, Greaves Cotton Limited, Nagesh Basavanhalli. “Our strategic acquisition of Ampere, one of the leading brands in the personal and last mile mobility electric vehicles segment, is part of a larger vision to helm a renewable-energy revolution in the country.”