CHENNAI: Greaves Electric Mobility, the e-mobility arm of Greaves Cotton Limited and one of the leading players in the E-2W and E-3W segment, has announced 100% acquisition of Bestway Agencies Pvt Ltd (BAPL) which sells e-rickshaws under the popular ELE brand.
In July last year, the company first announced its intervention with Bestway with 74% stake and added e-rickshaw as part of the portfolio offerings. With significant quarter on quarter growth, owing to the increase in petrol prices and people seeking it as the form of livelihood.
“With this strategic acquisition, we have strengthened our position to become one of largest players now catering to 85% of the last mile mobility segment. We continue to mobilize India ahead, generate gainful employment for e3W users seeking sustainable livelihood opportunities & thus contribute towards building the nation responsibly.” said Nagesh A Basavanhalli, Group CEO and MD, Greaves Cotton.
