Greaves Cotton gains 3% after launch of two-wheeler, three-wheeler EVs

In the commercial three-wheeler segment, the company unveiled an electric passenger vehicle Greaves ELP, cargo EV Greaves ELC and a futuristic cargo concept Greaves Aero Vision.

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Shares of Greaves Cotton headed higher by over 3 percent intraday on January 11 after the company unveiled a range of two-wheeler and three-wheeler electric vehicles (EV).

The engineering company on January 11 unveiled its range of electric two-wheelers and three-wheelers at the ongoing Auto Expo 2023.

The company at unveiled three two-wheelers under the Ampere brand – Ampere Primus, Ampere NXG and a multi-utility scooter Ampere NXU that can be also used for deliveries.

In the commercial three-wheeler segment, the company unveiled an electric passenger vehicle Greaves ELP, cargo EV Greaves ELC and a futuristic cargo concept Greaves Aero Vision. Greaves Electric Mobility Private Ltd, CEO and Executive Director, Sanjay Behl said Ampere Primus will be available during the ongoing quarter, while rest of the vehicles will be made available during the course of next financial year.

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“Ampere Primus is now open for bookings across India. Rest of the vehicles will be launched in the next financial year,” Behl said.

Greaves Cotton Executive Vice Chairman Nagesh Basavanhalli at the event shared the company’s commitment to invest Rs 1,500 crore in the deployment of indigenous electric vehicle ecosystem in the country since its entry into the e-mobility business.

At 11:24am, Greaves Cotton was quoting at Rs 137.00, up Rs 4.30, or 3.24 percent, on the BSE. It touched an intraday high of Rs 138.65 and an intraday low of Rs 133.80. The scrip was trading with volumes of 83,011 shares, compared to its five day average of 49,185 shares, an increase of 68.77 percent.