Greaves Electric Mobility Pvt Ltd to accelerate electric vehicle development with Siemens Xcelerator

Greaves Electric Mobility Private Limited (GEMPL), the e-mobility business of Greaves Cotton Limited, and one of India's leading E2W to E3W mobility players, has adopted the Siemens Xcelerator portfolio of software and services to design, and develop its electric two & threewheeler vehicles for the Indian market.

The initiative re-affirms Greaves' vision to popularize EV adoption and bring affordable, sustainable, lastmile mobility to India's rapidly burgeoning EV ecosystem.

Siemens' NX™ software for product design and engineering and Teamcenter® software for Product Lifecycle Management (PLM), from the Siemens Xcelerator portfolio, will help Greaves Electric Mobility to develop products faster by streamlining and accelerating the product development process through an integrated set of digital product engineering and collaboration capabilities.

These solutions will enable GEMPL to shorten development time by efficiently utilizing digital twins and connecting people and processes across functions. Specifically, digital capabilities will be enabled in the areas of requirements engineering, program planning, mechanical, electrical, and software design management, bill of material management, process, and change management.

Commenting on the initiative, Sanjay Behl, CEO, and Executive Director, GEMPL said, "We are proud to collaborate with Siemens and use its highly advanced digital capabilities, cutting-edge technologies, and expertise to accelerate our product development and thereby, market expansion of our electric vehicle product portfolio. India's EV ecosystem is on the cusp of tremendous growth, with increasing demand from consumers for sustainable and affordable personal mobility Siemens' toolset will enable us to reduce the time-to-market introduction of electric two-wheelers under Ampere, as well as help to contribute to the country's goal of achieving 80% EVs in two and three-wheelers by 2030 and net zero carbon emissions by 2070". (Source: NITI Aayog)

"We are delighted to contribute to GEMPL's vision for revolutionizing the mobility space in India with ecofriendly EV product offerings. The Siemens Xcelerator portfolio will enable GEMPL to achieve a faster timeto-market for their electric two (E2W) and three-wheelers (E3W) by supporting an agile product development process," said Mathew Thomas, Vice President, and Managing Director - India, Siemens Digital Industries Software.

The EV industry in India is fast-growing, spurred on by demand to reduce the adverse effects of vehicular emissions in the region, and supported by targeted government purchase incentives such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India (FAME) II scheme. With a passion to revolutionize everyday mobility, GEMPL dreams of a sustainable future with eco-friendly mobility within everyone's grasp. The launch of Ampere EVs, enabled by investments in research and innovation, is a step towards realizing that vision. With a highly accessible and democratized product portfolio of electric two & three-wheelers, Greaves Electric Mobility Private Limited has emerged as one of the fastest-growing EV brands in the country, registering primary sales of 63k + units as of YTD September FY23. (Source: billing data)

Shares of Greaves Cotton Limited was last trading in BSE at Rs. 131.95 as compared to the previous close of Rs. 134.70. The total number of shares traded during the day was 102345 in over 2076 trades.

The stock hit an intraday high of Rs. 136.10 and intraday low of 130.25. The net turnover during the day was Rs. 13498480.00.

Source : Equity Bulls

Keywords

GreavesCotton INE224A01026 GreavesElectricMobility SiemensXceleratorPortfolio