Greaves Cotton to acquire majority stake in Ampere

Greaves Cotton is set to acquire a majority stake in electric vehicle (EV) maker Ampere Vehicles Pvt. Ltd. With this, the company plans to offer clean energy mobility solutions to its customers.

Ampere is involved in the design, development, manufacturing and marketing of EVs and offers products in the last mile mobility EV segment. Greaves currently builds powertrains for farm equipment and gensets. It has a network of over 5,000 retail outlets, while the Greaves Care network services over 7,000 vehicles per month.

According to the company, its expansive distribution network as well as service facilities will be beneficial for the growth of Ampere.