The electric vehicle segment is increasing with a sustainable speed, and with that, it is inviting new companies. Greaves Cotton have launched a new range of electric two-wheelers and three-wheelers on the first day of the Auto Expo 2023. In addition, the brand has planned to invest Rs. 1500 Crore in the electric space of India in the upcoming years. The brand has also announced that it will leverage its years of experience developing powertrains and aims to transform the last-mile delivery segment. The company has a good track record in the field of engineering and the development of new technologies. This is Greaves Cotton's first project in passenger mobility.
The brand has launched 6 electric vehicles, which include two-wheelers and three-wheelers. The brand has confirmed that they have saved a total of 35,000 litres of fuel as their vehicles have driven over 1.3 Billion kilometres.
On the occasion of the launch, the Executive Vice Chairman of Greaves Cotton Limited, Mr Nagesh Basavanhalli, said, “Greaves Cotton is in the process of transitioning from a metal-based manufacturing engineering company to an electric, electronic and mechatronics-based mobility technology company that is solving the 21st-century challenges in clean and affordable last-mile mobility. Today, the products and technology we unveiled here bear testimony to our purposeful stride towards emerging as India's most complete EV ecosystem player. Each product, inspired by the Arctic Tern, epitomises its sustainable spirit, aerodynamic efficiency for mobility, and intelligent design. We are committed to helping India transition to electric mobility while setting a new benchmark for scale, sophistication, and diversity in the EV landscape. 2023 marks a new growth phase for us, providing holistic, end-to-end solutions and empowering lives."
After the launch of these vehicles, the share market price of the brand has gone up by 3%.
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