Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

Greaves Electric Mobility opens its largest EV production facility in Ranipet, Tamil Nadu

Posted On: 2021-11-23 12:57:57 (Time Zone: IST)


Greaves Electric Mobility, the E-Mobility arm of Greaves Cotton Limited and one of the market leaders in the E-2W and E-3W segments, inaugurated its largest EV production facility in Ranipet, Tamil Nadu. The 35-acre plant built to preserve the green terrain surrounding the site is located in the Industrial Centre of Tamil Nadu and will serve as an electric mobility hub for both domestic and export markets.

The Plant is part of the INR 700 crore investment roadmap announced by the Company to expand its growing share in the Indian electric vehicle market. The Company currently enjoys the fastest growing market share in a keenly contested electric mobility segment. The new manufacturing plant is also in accordance with flagship initiatives of the Government such as Make in India and Atmanirbhar Bharat to promote indigenous capabilities in manufacturing.

The Ranipet Plant will have capacity to produce 120,000 units by end of this fiscal year and gradually ramp up to 1 million units in near future. The Company today has robust workforce that has been a hallmark of the brand since its earliest days. The facility will be operational with 70% women in the workforce.

Shri. Thangam Thenarasu, Hon'ble Minister for Industries, Government of Tamil Nadu, said, "Electric Mobility is gaining momentum and we are fully committed to offering every possible support to the automobile industry here. More factories like of Greaves Electric Mobility will uplift the community and it is absolutely wonderful to see how the company has employed the majority of women workers in the plant. To make India the world's manufacturing hub, we must prioritise upskilling and creating jobs for our female workforce."

On the occasion, Nagesh A Basavanhalli, MD and Group CEO Greaves Cotton Limited said, "We are focused on building affordable, reliable and dependable electric two-wheelers for commuters across the country, which aligns with our purpose of decarbonizing last-mile transportation for a better planet. This EV megasite will help us meet the rising needs of discerning customers and fleet purchasers in the last mile mobility market as we expand our capacities to produce a million EVs a year in future. This Plant will also allow us to nurture a highly skilled workforce and generate employment for the local community including women who form 70% of our workforce."

Ms. Pooja Kulkarni, IAS. MD and CEO, Guidance Tamil Nadu said, " Tamil Nadu has now become the destination of choice for EV manufacturers. With a host of companies across the EV supply chain located here and in the process of setting up their operations, the State has emerged as the EV Capital of India. This new facility is a testimony of the industry-government partnership in positioning Tamil Nadu as the EV Capital of India. We are delighted to welcome Greaves Electric Mobility to this flourishing ecosystem. The skilled workforce from Ranipet and surrounding region will immensely benefit by being a part of this future of mobility facility. This facility will further strengthen the ecosystem with a wide pool of technical personnel, strong R&D capabilities, ancillary auto components, and manufacturing experience. We welcome more companies like Greaves to be part of this mission to transform the transportation and connectivity infrastructure in the country."

Greaves Electric's ambitious goal of #MovingBillionsWithGreaves is encouraging EV adoption in the country. By catering to both B2C and B2B domains, the business is supporting the entire ecosystem with continual last-mile mobility of people, commodities, and services. Greaves Electric Mobility has a robust retail and after-sales network with 7000+ touchpoints, 12000 associate mechanics and a dedicated oncall support team to facilitate the consumers to make this transition smoothly. Furthermore, in the month of October, the company sold over 7500 units.

Shares of Greaves Cotton Limited was last trading in BSE at Rs. 145.40 as compared to the previous close of Rs. 153.10. The total number of shares traded during the day was 487479 in over 7486 trades.

The stock hit an intraday high of Rs. 154.75 and intraday low of 143.05. The net turnover during the day was Rs. 72209263.00.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Edelweiss Financial Services announces Rs. 5,000 million Public Issue of Secured Redeemable NCDs

B N Rathi Securities Ltd fixes Dec 17, 2021 as record date for rights issue

UltraTech Cement Ltd commences mining from Bicharpur Coal Block

Wipro Recognized as 'Gold' Employer by India Workplace Equality Index (IWEI) 2021

India Pesticides Ltd allotted additional land adjacent to Sandila Plant

TCS launches Assessment and Migration Factory for AWS Mainframe Modernization

Oriental Aromatics Ltd board declares interim dividend of Rs. 1.5

Dilip Buildcon Ltd declared as Ll bidder for EPC project in Bilaspur, Himachal Pradesh

Sun Pharma arm DUSA to get $22.5 mn from Biofrontera for settlement of litigation

NIIT's subsidiary, RPS Consulting appoints Francis Jacob as President and Business Head

Maruti Suzuki India Limited increases price of EECO non-cargo variants

Abirami Financial Services India Ltd board to consider monetization of asset

BHEL wins CII-Exim Bank Platinum Awards for Business Excellence

V-Mart Retail Ltd opens one new store in Haryana

Vidli Restaurants Limited board approves rights issue at Rs. 10

Innovators Facade Systems Limited receives order from DLF Group

Infosys collaborates with One of Europe's Greenest Data Centers to accelerate Daimler's transition to Sustainable Mobility

Dharamsi Morarji Chemical Company Ltd to list in NSE from Dec 1, 2021

Fitch affirms Axis Bank at 'BB+', Outlook Negative

TCS helps AGL embrace New AI-powered Operating Model to transform Customer Experience

Dhruv Consultancy Services Limited receives LOA for project worth Rs. 5.04 crore

Arvind Ltd update on Ankur unit

Lupin launches Sciflix a mobile-friendly learning platform for post graduate students specializing in pulmonology

ICRA-assigned Credit Rating for 100.00 crore bank lines of Rane Holdings Limited

ITI Limited installs 100 KW Captive Rooftop Solar Power Plant in Lucknow, Uttar Pradesh

GIC to invest in IRB Infrastructure Developers Limited

Vishvprabha Ventures Ltd Fixes Record Date for Rights Issue of equity shares

Earum Pharmaceuticals Ltd fixes Record Date for Stock Split

ICRA upgrades credit rating of DLF Limited to [ICRA] AA- with Stable outlook

IIFL Home Finance Ltd disbursed loans over Rs. 2500crore, as on 30 September, 2021

Kotak Mahindra Bank reaches One Million FASTags Milestone

Accor renews partnership with IndiGo's 6E Rewards program to offer accelerated travel and stay benefits

Rossari Biotech Ltd. appoints Ketan Sablok as the Group Chief Financial Officer

Vedanta's Sesa Goa Iron Ore Business pledges to become carbon neutral by 2050

CL Educate liquidates third land parcel this year

Reliance Capital Ltd welcomes RBI move to resolve company's debt through IBC

Knowledge Marine & Engineering Works Ltd receives LoA from Vizag Port Trust for patrol boat

Patel Integrated Logistics Ltd board to consider rights shares allotment on Dec 2, 2021

Tatva Chintan Pharma Chem Ltd acquires land at Dahej-III GIDC Estate, Bharuch

Intec Capital Ltd accepts OTS proposal from The Bank of Maharashtra

Sayaji Hotels Ltd arm signs 8 new properties

Coal India Ltd board declares interim dividend of Rs. 9

BSL Ltd updates on credit rating

Ratnamani Metals & Tubes Ltd receives new Domestic Orders of Rs.297.87 Crores

TCS Named a Leader in IDC MarketScape for Worldwide Managed Multicloud Services

James Warren Tea Limited board approves buyback at Rs. 295 through tender offer

Goeld frozen Foods starts operations in Bhopal

Happiest Minds wins Platinum and Gold Awards for its 2021 Annual Report from LACP

Reliance Industries Ltd denies bid for BT

TTK Prestige Ltd fixes Dec 15, 2021 as record date for stock split


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020