Ampere Vehicles, the E-Mobility arm of Greaves Cotton Limited, and one of the leading players in the E-2W and E-3W space expanded its play in the last mile mobility ecosystem with the announcement of a strategic stake in L5 E-3W manufacturer, MLR Auto. Investment in MLR Auto reflects Ampere's agility and commitment in responding to emerging needs of its 3W customers for disruptive cost economics products that enhance daily savings and transform ease of driving with emission free and noise free vehicles. The company accelerates pace of electrification in mass mobility segment and stands to gain from host of incentives under Fame-II subsidy with the added advantage of various stage government incentives. Clean mobility alternatives with zero emissions based solutions will significantly cut carbon load, improving air quality, reduce pollution related disorders and make cities much better to live in the long run.
Commenting on this occasion, Mr. BVR Subbu, Chairman of Ampere Electric, observed, "Our market research and analysis suggests that in the top ten urban 3W markets, passenger vehicles will shift rapidly to EVs and by 2024, 100 per cent of the segment will be electric. This comes from an overwhelming consumer preference for quieter emission free vehicles as consumer habits evolve, particularly those relating to the mobile consumption of data and entertainment. At Ampere, we are getting ready to participate in this high growth segment with a range of affordable and reliable products."
Speaking on this announcement, Mr. Nagesh A Basavanhalli, MD and Group CEO of Greaves Cotton and Director of Ampere Electric, mentioned, "With this strategic stake in MLR Auto, Ampere Electric gets ready to operate as full range last mile electric vehicle company with mass mobility solutions in both E-2W & E-3W segment. Our commitment to grow the clean last mile with wide variety of consumer friendly solutions continues to gather momentum."
Speaking on joining hands with Ampere, Mr Lokeswara Rao Mullapudi, Director MLR Auto stated, "We are excited to be part of the Ampere family as we both share a common vision to work towards sustainable and affordable mobility solutions. We are confident that our combined strengths will help achieve new milestones of growth in fast growing and promising space of electric vehicles."
