Ampere Vehicles acquires e-rickshaw firm Bestway Agencies with 74 per cent stake

  • Ampere said it foresees growth in the e-rickshaw segment, which is one of the largest and fastest-growing categories of EVs in the country.
Passengers travel in an e-rickshaw.
Passengers travel in an e-rickshaw.

Ampere Vehicles, the electric arm of Greaves Cotton, on Monday announced the acquisition of Noida-based e-rickshaw firm Bestway Agencies (BAPL) with a 74 per cent stake.

Bestway sells e-rickshaws under the ELE brand with a strong B2C presence in the mass market passenger segment.

Through this acquisition, Ampere will expand its presence in this fast disrupting segment to become an integrated last-mile e-mobility player with strong presence in both electric two- and three-wheelers, Ampere vehicles said in a release.

Also check these Bikes

Find more Bikes
Ampere Magnus (HT Auto photo)
38.25 Ah 55.0 45.0
₹ 49,999 - 65,990
Compare
View Offers
Odysse Electric Odysse Electric Hawk (HT Auto photo)
2.96 kWh 45 Kmph 170 Km
₹ 73,999 - 98,500
Compare
View Offers
Battre Electric Mobility Battre Electric Loev (HT Auto photo)
3.1 kWh 65 Kmph 60 km
₹59,900
Compare
Battre Electric Mobility Battre Electric One (HT Auto photo)
3.1 kWh 50 Kmph 85 km
₹74,000
Compare
Battre Electric Mobility Battre Electric Iot (HT Auto photo)
30 Ah 110 kmph 85 km
₹79,999
Compare
Battre Electric Mobility Battre Electric Gps:ie (HT Auto photo)
24 Ah 90 Kmph 65 km
₹64,990
Compare

"With the acquisition of Bestway, Ampere has now embarked on a new journey to provide clean, safe and sustainable shared mobility solutions through e-3wheeler and become a leading player in the country's EV ecosystem," said Ampere Vehicles Chairman B V R Subbu.

The acquisition is subject to customary closing conditions, the company said.

E-rickshaw is one of the largest and fastest-growing categories of EVs in the country, and Ampere foresees growth in this segment, it said.

In addition to the business-to-customer (B2C) segment, with this acquisition, Ampere will also be able to offer a complete product portfolio to its business-to-business (B2B) customers who have requirements for e-3 wheelers as well for both people and cargo mobility, the company said.

Also Read : Ampere Electric Vehicles reports 60% boost in sales since June 1

"This acquisition will further strengthen our relationship with the domestic consumer by adding last-mile mobility products and services for uninterrupted journey, enhancing productivity across E-2W and E-3W spectrum," Nagesh Basavanhalli, MD and CEO of Greaves Cotton Ltd and director of Ampere Vehicles, said.

He said combining Ampere's and Bestway's expertise will help in further boosting the company's growth and strengthen market positioning as a leading e-mobility business in India.

The e-3wheeler segment has seen growth acceleration in the past few years and Bestway's ELE e-rickshaw has been one of the top-three brands in this organised segment in the high-growth markets of Eastern India and Eastern UP, the release said.

First Published Date: 07 Jul 2020, 08:50 AM IST
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city

Want to get the best price for your existing car?

Powered by: Spinny Logo
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.