Ampere Electric has announced a phased investment potential of ₹700 crore over 10 years to set up a new e-mobility manufacturing plant in Ranipet, Tamil Nadu.
The EV maker has also signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu, on Tuesday. The company says that when ready, its Ranipet manufacturing plant will span over 1.4 million square feet and will come out to be one of the largest state-of-the-art e-mobility manufacturing plants in India.
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The new Ranipet plant will be operational by 2021, the company says. In the first year of operations, the plant will have the potential to start manufacturing 100,000 units, while the production will be scaled up to 1 million units per annum. "To be built on the principles of Industry 4.0, the Ranipet Plant will boast an advanced automation process for superior manufacturing capabilities," the company noted in a press release sent recently.
Speaking on this announcement, Nagesh Basavanhalli, Group CEO & MD, Greaves Cotton Limited, said, “This is a historic milestone for Greaves Cotton, as we outline our investment to transform the clean mobility landscape in India. This plant is dedicated to the State of Tamil Nadu and our Nation. This move aligns with our mission of decarbonising last-mile transportation for a cleaner planet and uninterrupted mobility."
The company says that it participates in Make-in-India and Atmanirbhar Bharat story of the Government in order to accelerate the adoption of electric vehicles. Ampere Electric has also announced a 35% growth in sales volumes for Q3 FY21.
The company has established a base of 500+ dealerships, 75000+ customer base in India, and has come out to be one of the prominent players in the EV two-wheeler industry in the country.