Ampere and Muthoot Capital Partner to Boost Affordability and Accelerate EV Adoption in India
Ampere, the electric two-wheeler (E2W) brand of Greaves Electric Mobility Limited (GEML), has partnered with Muthoot Capital Services, one of India's leading retail NBFCs. This strategic alliance aims to significantly improve the accessibility and affordability of electric mobility across the country, directly supporting accelerated EV adoption in the Indian market.The partnership is designed to overcome affordability barriers by offering comprehensive financing solutions tailored to diverse income brackets and specific mobility needs. These flexible repayment options are expected to expand access to electric vehicles for a wide range of customers, including salaried professionals, self-employed individuals, gig workers, and small business owners.
Manoj M. P., Chief Business Officer at Greaves Electric Mobility, emphasized the importance of financing in this transition, stating that "Our partnership with Muthoot Capital Services Ltd. brings together trusted entities to offer seamless and customer-centric ownership solutions. Together, we aim to remove financial barriers, empower customers with greater choice and convenience, and accelerate the adoption of clean mobility across Bharat."
Mathews Markose, CEO of Muthoot Capital Services Ltd., highlighted that the collaboration is central to democratizing electric mobility access in India. He added, "As the country transitions towards cleaner transportation, financing will play a pivotal role... Our partnership with Ampere brings together two trusted brands with a shared vision of enabling aspirations and supporting livelihoods."
Driving Market Presence through Network Strength
Ampere has established a strong presence within India's E2W market, backed by over 18 years of experience in designing and manufacturing electric vehicles. GEML is committed to building a sustainable electric mobility ecosystem, supported by the 165-year legacy of its parent company, Greaves Cotton Limited.The alliance leverages both companies' strengths to accelerate mass EV adoption. By combining GEML’s expanding two-wheeler portfolio with Muthoot Capital's extensive retail financing network, the collaboration is set to strengthen market presence and support dealer growth. Ampere currently supports its network through 400 dealer touchpoints across India.
The partnership expands access to clean, future-ready mobility solutions by utilizing a robust pan-India network of over 500 touchpoints, ensuring seamless customer support. This reflects Ampere's commitment to delivering products and solutions engineered to advance India’s journey toward sustainable and inclusive mobility.
GREAVESCOT Stock Price Movement
As of 1:01 PM, shares of Greaves Cotton Limited are slipping by 1.25% in live trading, currently at ₹240.94 after shedding ₹3.05 from the previous close. The stock has seen significant activity today, with a total traded volume reaching 490,555 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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