Greaves Cotton will acquire a majority stake in Coimbatore-based Electric Vehicle company Ampere Vehicles.
Hemalatha Annamalai, CEO, Ampere Vehicles, said Greaves Cotton would acquire 67% stake in Ampere, investing about ₹75 crore. The two companies have signed a definitive agreement and the formalities would be completed in two weeks, she said.
Nagesh Basavanhalli, MD & CEO, Greaves Cotton, said in a press release that with the acquisition, the company could address a wider range of customer segments with clean energy mobility solutions.
