Greaves Cotton Ltd. on Thursday announced plans to accelerate electric vehicle (EV) development through its subsidiary in association with Siemens Xcelerator.
Greaves Electric Mobility Pvt. Ltd., the e-mobility business of Greaves Cotton and India’s leading EV maker, has adopted the Siemens Xcelerator portfolio of software and services to design and develop two-wheeler and three-wheeler electric vehicles for the Indian market.
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.
Siemens’ toolset will enable the company 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 percent EVs in two-wheeler and three-wheeler segments by 2030.
Greaves Electric Mobility has been in the business of EV technology, designing and manufacturing electric vehicles for the past 13 years. The company has a strong presence in both electric 2-wheelers and electric 3-wheeler segments with a strong base of over 1.7 lakh customers.
Unfazed by the announcement, shares of Greaves Cotton continued their losing streak on Friday, falling for a sixth straight session.
Shares of Greaves Cotton are trading 3.86 percent lower at Rs 126.95.
(Edited by : Rukmani Krishna)
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