Greaves Cotton's Primus opens for bookings to 700 dealers today

“Primus, which is our foray into highspeed 2-wheeler, will be open for bookings through our 700 odd dealer outlets in the country as of today, and it will be available in the market this quarter. The rest of the vehicles will follow over the next fiscal year,” he said.

Currently, Greaves Cotton holds a 13-14 percent market share in the EV segment. Basavanhalli expressed confidence in the demand for the company's products, stating that they have introduced 6 new products in 2-wheeler and 3-wheeler EVs. He also anticipates the company's quarterly run rate of 33,000 units to continue to grow in the future.

Basavanhalli also mentioned that while business-to-business (B2B) sales currently make up a smaller portion of the company's overall business, they expect this segment to grow rapidly in the long term. With the launch of the new primus 2-wheeler and the increasing demand for EVs, Greaves Cotton is positioning itself to capitalize on this growth.

The company recorded its highest-ever Q2 sales of 33,000 units for its 2-wheeler and 3-wheeler portfolio. It also recorded the highest ever quarterly revenue of Rs 318 crore and EBITDA of Rs 8 crore. Greaves’ electric mobility now accounts for 46 percent of overall revenue and Ampere continues to be a fast-growing e-Mobility brand.