Ampere Electric declares investment in new EV plant in Ranipet, TN

The Indian state of Tamil Nadu is currently witnessing appreciable sales of electric vehicles; a factor that has propelled the state’s investment in electric mobility. In one such instance, Ampere Electric, an EV manufacturer and a subsidiary of Greaves Cotton, has recently announced investing about Rs 700 crore over the span of 10 years to build a world-class electric mobility production plant in Tamil Nadu’s Ranipet district. An MoU to this effect was inked by the company with the Government of Tamil Nadu.

As per official sources, aimed to be built at over 1.4 million square feet, the EV manufacturing plant of Ranipet would emerge out to be one of the largest state-of-the-art e-mobility production plants in the country. Moreover, the plant is touted to manufacture about 100,000 units in its first year of operation with the potential to go up to one million units per year. It has been speculated that the facility will come under operation by the end of 2021, delivering and housing an advanced automation process for brilliant manufacturing capabilities.

Speaking on the latest accomplishment, CEO and MD of Ampere Electric- Nagesh Basanvanhalli, mentioned that investment in the EV plant stands to be a historic breakthrough for the company as it outlines the investment to remodel the clean mobility landscape in the Indian subcontinent. He added that the strategic move is aligned with Greaves Cotton’s mission of decarbonizing last mile transportation for a cleaner and sustainable planet and constant mobility.

Meanwhile, the COO of E-Mobility Business at Ampere Electric, Roy Kurian, stated that the newly constructed plant would help the firm expand its offerings to an ever-increasing consumer base not just in India, but also in other parts of the globe.

Post the announcement of investment, Ampere Electric comes on the back of 35% growth in its sales volumes for the third quarter for FY2021, even amidst the challenging business environment triggered by the coronavirus pandemic.

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