27 Dec 2024
Targeted Capacity Expansion at Greater Noida and Toopran Plants
Greaves Electric Mobility, a Bengaluru-based company under Greaves Cotton Ltd., has announced plans to more than double its three-wheeler production capacity by the financial year 2027. The company operates three manufacturing plants in India, located in Ranipet (Tamil Nadu), Greater Noida (Uttar Pradesh), and Toopran (Telangana).
The capacity at the Greater Noida plant will increase from 21,514 units to 45,896 units. Similarly, the Toopran plant’s capacity will grow from 13,538 units to 34,800 units.
Investment Plans for Expansion
Greaves Electric Mobility plans to invest Rs 20 crore for the expansion at the Greater Noida plant and Rs 38 crore for the Toopran plant. These investments will be funded through proceeds from the company’s proposed public offering.
Focus on Growing the Three-Wheeler Market
The company stated that the increased capacity will help meet the growing demand for three-wheelers. The expansion will allow Greaves Electric to produce more units of its existing models and also manufacture new models in the future.
Overview of Greaves Electric Plants
- Ranipet, Tamil Nadu: Produces electric two-wheelers under the Ampere brand. Current capacity: 4.80 lakh units annually. No plans for capacity expansion.
- Greater Noida, Uttar Pradesh: Manufactures electric three-wheelers. Operated by Bestway Agencies Pvt Ltd.
- Toopran, Telangana: Produces both electric and ICE three-wheelers. Operated by MLR Auto.
Battery Pack Assembly Line in Ranipet
Although no expansion is planned for the Ranipet plant’s vehicle capacity, Greaves Electric will set up a battery pack assembly line with an annual capacity of 400,000 units. The assembly line is expected to start commercial production in July 2026.
Current Models and Prices
Greaves Electric Mobility sells a variety of three-wheeler models under its different brands:
- Eltra Brand: Two medium-speed electric three-wheelers for passengers and goods. Starting price: Rs 3.80 lakh.
- Greaves Brand: Diesel and CNG three-wheelers with four models. Starting price: Rs 2.90 lakh.
- Ele Brand: Electric rickshaws with three models. Starting price: Rs 1.30 lakh.
Sales and Revenue Data
In 2023-24, three-wheelers contributed 28% to the company’s total revenue, with sales of 13,470 units, up from 6,870 units in the previous year.
The Ampere brand, which focuses on electric two-wheelers, remains the main revenue driver, contributing 68% of total revenue. However, sales of Ampere two-wheelers have declined from 1.09 lakh units in 2022-23 to 47,820 units in 2023-24.
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