BVR Subbu, an automobile industry veteran and ex-president of Hyundai Motor India, will help steer the EV manufacturer's strategic growth programme.
13 Sep 2019 | 18336 Views | By Autocar Professional Bureau
Ampere Vehicles, the electric mobility arm of Greaves Cotton, has announced the induction of industry veteran BVR Subbu to its Board as the Chairman.
In his role as Chair of the Board, BVR Subbu, an automobile industry veteran and ex-president of Hyundai Motor India, will steer the Board to ...
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Ampere Vehicles, the electric mobility arm of Greaves Cotton, has announced the induction of industry veteran BVR Subbu to its Board as the Chairman.
In his role as Chair of the Board, BVR Subbu, an automobile industry veteran and ex-president of Hyundai Motor India, will steer the Board to stay ahead of the complex challenges presented by a competitive Indian e-mobility transformation and support Ampere’s strategic growth ambitions.
Speaking about the appointment, Nagesh Basavanhalli, Director, Ampere Vehicles said, “Today’s decision to appoint a new chairman of the Board at Ampere is a major step in our quest to expand Ampere’s footprint across India. BVR Subbu comes with exceptional experience in steering auto brands towards growth and is an industry legend.”
Commenting on his appointment, BVR Subbu said, “Ampere Vehicles as a pure-play electric vehicle company has the potential to revolutionise Indian EV industry. I look forward to contributing to the continued success of Ampere Vehicles.”
The Coimbatore-based Ampere Vehicles, has a near-20 percent market share in the Indian electric two-wheeler industry along with a range of high-to-low-speed, affordable and energy efficient electric scooters that are currently popular with commuters making a switch from conventional to electric two-wheelers.
Greaves Cotton and Ampere Vehicles were the cover story for Autocar Professional's recent July 1, 2019 Maharashtra Special. The 160-year-old Mumbai-based Greaves Cotton. This diesel engine manufacturer, which is a major supplier to three-wheeler OEMs, is now making a marked shift to electric mobility. Armed with its recent acquisition of the Coimbatore-based Ampere Vehicles (which has an efficient in-house EV powertrain manufacturing setup), the company is looking to be future-fit by developing affordable last-mile EVs and is also looking to set up charging infrastructure across the country.
In July 2019, Greaves Cotton, which is aggressively driving its electric mobility programme in India, increased its stake by 14 percent in Ampere Vehicles, taking its total ownership to 81.23 percent. The investment follows the acquisition of Ampere Vehicles in October 2018 with 67.34 percent stake for Rs 77 crore. Till now, Greaves Cotton's total investment in Ampere Vehicles is Rs 120.49 crore (including control premium). Greaves Cotton says the investment is part of its long-term growth strategy to offer superior products and services in last-mile e-mobility space, which the company says is seeing significant interest from various quarters.