Greaves Cotton gains on launching electric 2-wheeler

Greaves Cotton rose 1.77% to Rs 135 after the company said it launched an electric two-wheeler, Ampere Primus, at Rs 1,09,900.

Greaves Electric Mobility (GEMPL), the e-mobility business of Greaves Cotton, marked its foray into the electric two-wheeler segment with the launch of Ampere Primus at Rs 1,09,900 (ex-showroom price).

Ampere Primus offers lithium iron phosphate (LFP) battery pack, improved performance with Permanent Magnet Synchronous (PMS) motor, belt drive, and smart connected cluster for seamless navigation.

"Primus offers a top speed of 77 kmph, range of over 100 kms, longer battery life with LFP chemistry, smart connectivity features, superior comfort and rideability," the company said in a statement.

Ampere Primus is open for bookings online and at dealerships, at Rs 499 for a limited period across markets, it added.

Sanjay Behl, executive director and CEO, Greaves Electric Mobility, said, "Primus is a flagship electric scoter from Ampere which is perfectly suited for multiple usage needs of any Indian family. Thoughtfully crafted and affordably priced, Primus has a very high appeal for modern millennial commuters with a discerning taste. It blends the finest aspects of safety, durability, performance, comfort, enhanced styling and smart connectivity features. With Primus we will not only strengthen Ampere's leadership in the electric last-mile mobility segment, we will also appeal to a much wider range of consumer segments."

Separately, the company announced that GEMPL has introduced the new Ampere Zeal EX, an entry-level, sporty e-scooter for the youth. The new Zeal EX will be debuted at an introductory price point of Rs 69,900 in Madhya Pradesh, Bihar, Uttar Pradesh, and Jharkhand. Furthermore, buyers can avail of benefits of up to Rs 6000 valid till 31st March 2023.

Meanwhile, GEMPL has also introduced the new Ampere Zeal EX at Rs 55,450 in Chandigarh. Buyers can avail of benefits of up to Rs 6000 till 31st March 2023.

Greaves Cotton is a diversified multi-product and multi-location engineering company. The company is a leading name in fuel agnostic powertrain solutions, e-mobility, aftermarket, retail, engineering services & finance.

On a consolidated basis, Greaves Cotton reported net profit of Rs 6.43 crore in Q3 December 2022 as against net loss of Rs 6.24 crore in Q3 December 2021. Net sales rose 5.57% YoY to Rs 513.51 crore in Q3 December 2022.

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