Greaves Cotton, a diversified engineering company and well-known manufacturer of powertrain solutions in CNG, petrol and diesel engines applications in India has intentions to become a full-service electric mobility player. The company is already present in the e-mobility space with several products.
Why outsource and face uncertainties when it can be made in-house seems to be the motivation for this decision. The 163-year-old branded company has announced plans for backward integration with powertrain manufacturing and is in talks with several global component makers. According to Greaves, this step will allow the company to have better control of the supply chain. Greaves says its entry in the powertrain business with in-house manufacturing of batteries, motors, controllers and other critical EV parts will help bring down production costs of its products.
Nagesh Basavanhalli, Vice-Chairman of Greaves Cotton confirmed this development on the side-lines of the AutoExpo2023. The diesel engines to EV maker introduced six new models in their electric three and two wheelers portfolio at the show. "Disruption is happening. New technology is coming in. Even as India is looking to target one million EVs, we plan to enter into powertrain manufacturing and critical components and ride on our legacy of being an OEM to various automakers to take away a significant chunk of the B2C market and B2B market, Basavanhalli said.
Greaves Electric Mobility is planning to move from mechatronics to electronics design for which Rs 200 crore has been earmarked as investment till the end of FY24.
This story is from the 1st February 2023 edition of Autocar Professional.
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This story is from the 1st February 2023 edition of Autocar Professional.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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