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Greaves sees bright scope for EV biz growth amid short-term Covid blues


May 06, 2021
Nagesh A Basavanhalli, Group CEO and Managing Director, Greaves Cotton Limited×
Segment delivered a record performance in Q4FY21 with revenue of ₹68 crore
Greaves Cotton has reported strong growth in its electric vehicle business and presents a bright future outlook amid short-term disruptions due to headwinds from the second Covid-19 wave.
The company’s electric mobility business has seen higher growth momentum, with its EV arm Ampere gaining popularity due to rise in demand for its electric two-wheelers (electric scooters) and electric three-wheelers (electric rickshaws).
The company’s electric two-wheeler volumes have grown by 63 per cent at 8,210 units in the March 2021 quarter as against 5,029 units in the year-ago quarter. Electric three-wheeler volumes more than doubled to 1,865 units in January-March 2021 quarter from 918 units a year-ago. ....

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