Greaves Cotton's Subsidiary GEML Boosts Stake in MLR Auto to 67.41% 11 hours ago Today
Greaves Electric Mobility Limited (GEML), a subsidiary of Greaves Cotton Limited, has increased its ownership stake in MLR Auto to 67.41% through a ₹55.00 crore investment in a rights issue. This strategic move strengthens GEML's position in the electric vehicle market and demonstrates its commitment to the electric mobility sector.
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More news about Greaves Cotton
09Apr 25
Greaves Cotton Subsidiary Launches Affordable Electric Scooter 'Ampere Reo 80' at ₹59,900
Greaves Cotton's subsidiary, Greaves Electric Mobility Limited (GEML), has introduced the Ampere Reo 80, a new electric scooter priced at ₹59,900. The scooter features a colored LCD cluster, LFP battery, front disc brake, and keyless start. It offers a range of 80 km on a single charge and doesn't require a license or registration. The launch aligns with GEML's 'Har Gully Electric' vision, aiming to make electric mobility more accessible in India. GEML reported a 52% month-on-month growth in March 2023, selling over 6,000 electric 2-wheelers. Deliveries of the Ampere Reo 80 are set to begin across India in April 2023.
06Mar 25
Greaves Electric Mobility Enters Battery Swapping Market with Indofast Energy Partnership
Greaves Electric Mobility Limited (GEML) has partnered with Indofast Energy to launch Ampere 'Magnus SW.S', an electric two-wheeler with battery swapping technology. The vehicle, designed for B2B fleets and ride-sharing services, features a 2.4 kW motor, 151 kg payload capacity, and IoT connectivity. Indofast Energy plans to deploy 50,000+ vehicles in the next year, expanding their current network of 670+ swap stations across 20+ cities.
06Mar 25
Greaves Cotton Dissolves US Subsidiary and Announces Management Change
Greaves Cotton has voluntarily dissolved its US subsidiary, Greaves Technologies Inc, effective February 28, 2025. Additionally, Mr. Jaganmohan Rao Medisetti has ceased to be a Senior Management Personnel due to organizational restructuring. These changes suggest significant organizational shifts, potentially aimed at streamlining operations and adapting to new business realities.
05Mar 25
Greaves Cotton Confirms Dissolution of US Subsidiary and Announces Management Change
Greaves Cotton Limited has voluntarily dissolved its US-based subsidiary, Greaves Technologies Inc, effective February 28, 2025. The company also announced that Mr. Jaganmohan Rao Medisetti has ceased to be a Senior Management Personnel, effective immediately. Both changes are part of the company's strategic realignment and organizational restructuring.