Greaves Electric Mobility has decided to double its production capacity at Ranipet in Tamil Nadu from April onward and has set aside a capex of Rs 100 crore for FY23.
According to Nagesh A Basavanhalli, MD and Group CEO, the investment of Rs 100 crore will be towards development of components to improve localisation level and for expanding production volume
The two-wheeler plant of Greaves Electric Mobility, a wholly owned electric mobility subsidiary of Greaves Cotton Ltd., at Ranipet will be adding a second shift soon thereby increasing the vehicle output gradually.
Apart from this, the company also plans to double its production to 20,000 units per month from April 2022.
