Greaves Electric Mobility Private Limited, (GEMPL), the e-mobility division of Greaves Cotton Limited, has achieved more than 200,000 secondary sales of its "Ampere" brand electric 2-wheelers as of the first quarter of fiscal year 2024.
In April, the company announced surpassing the 100,000 sales milestone of its "Ampere" brand electric 2-wheelers in the fiscal year 2023. This is a step forward in promoting the adoption of electric 2-wheelers nationwide.
Greaves Cotton has a diverse product range that includes Zeal, Magnus, and Primus, Ampere caters to the specific needs of personal mobility and last-mile e-commerce customers. Sanjay Behl, CEO & Executive Director, GEMPL said "Greaves Electric Mobility will introduce several exciting retail and finance schemes to commemorate this significant milestone in our quest to "Make Har Gully Electric" in India.”
The company has an extensive pan-India dealer network spanning across Tier 1 to Tier 4 markets. In the electric 2-wheeler segment, the 'Ampere' brand
is a fast-growing e-scooter brand with a strong presence in both B2C and B2B segments. Furthermore, GEMPL's subsidiary and associate companies, Bestway Agencies Private Limited and MLR Auto Limited, are rapidly expanding businesses in the electric 3-wheeler segment.
Greaves Cotton, in February 2023, announced a leadership expansion. Narasimha Jayakumar was appointed as CEO of the Retail Business. Jayakumar was earlier the Managing Director of Brainly India, CEO of Aakash Edutech, and Vertical Head at Google India. Sandeep Divakaran has been appointed as the CEO of Greaves Finance. Divakaran has held leadership roles earlier such as CEO of Ola Fleet, and Head of Strategy for Ola Electric. The company has named Chandrasekar Thyagarajan as the CFO of Greaves Electric Mobility. He was earlier Chief Financial Officer for Birlasoft Ltd.
In the fourth quarter of FY23, the company posted 60 percent jump in consolidated net profit at Rs 26.7 crore, while revenues stood 33 percent higher at Rs 827 crore.
Greaves Cotton is trading 3 percent higher on NSE at noon on July 11.
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