Greaves Electrical Mobility Acquires e-Rickshaw Firm Bestway
Greaves Electrical Mobiity is the electrical mobility arm of Greaves Cotton Restricted, and likewise owns the Ampere Electrical model.
- Bestway Companies sells e-rickshaws beneath the ELE model
- Greaves Electrical Mobility is the e-mobility arm of Greaves Cotton
- Greaves Electrical Mobility owns the Ampere Electrical EV model
Greaves Electrical Mobility, the electrical mobility arm of Greaves Cotton Restricted has introduced 100 per cent acquisition of Bestway Companies Non-public Restricted, which sells e-rickshaws beneath the favored ELE model. In July 2020, the corporate first introduced that it has acquired 74 per cent stake in Bestway and added the e-rickshaw model as a part of its portfolio choices. With important quarter on quarter progress, the corporate mentioned in a press release that ELE e-rickshaws has additionally seen great progress during the last yr.
“With this strategic acquisition, we now have strengthened our place to grow to be one in all largest gamers now catering to 85% of the final mile mobility phase. We proceed to mobilize India forward, generate gainful employment for e3W customers searching for sustainable livelihood alternatives & thus contribute in the direction of constructing the nation responsibly,” mentioned Nagesh A Basavanhalli, Group CEO and MD, Greaves Cotton.