Chennai, Aug 3:
Greaves Electric Mobility Limited has raised ₹530 crore through a fully subscribed rights issue, backed by existing investors including Greaves Cotton Limited and Abdul Latif Jameel Green Mobility Solutions.
The funds will support development of next-generation EV technologies, including battery systems and powertrains, while strengthening its two- and three-wheeler portfolio. Chairman Karan Thapar said the investment reflects confidence in GEML’s growth and role in India’s clean mobility transition.
Managing Director Vikas Singh added that the capital will accelerate innovation and expand product offerings as the EV market moves toward mass adoption.