After the government came down heavily on EV makers, like Hero Electric, over charges of misusing subsidy under the government's FAME II policy, the company has denied all allegations.
Commenting on the development, Greaves Cotton Managing Director and Group Chief Executive Officer, Nagesh A Basavanhalli said, "With this strategic stake in MLR Auto, Ampere Electric gets ready to operate as full range last-mile electric vehicle company with mass mobility solutions in both E-2W (electric two-wheeler) and E-3W (electric three-wheeler) segment."