Greaves Electric Mobility looks to expand its presence in India’s electric two-wheeler and three-wheeler segments

Greaves Electric Mobility – the e-mobility arm of engine manufacturer Greaves Cotton Limited – is in talks with investors to raise resources to expand its presence in the country’s fast-growing electric two-wheeler and three-wheeler segments.

Greaves Cotton Managing Director and Group CEO Nagesh Basavanhalli told ET the group has received interest from multiple entities. “We saw opportunity early in the electric mobility space, diversified from our core engine manufacturing business and invested in introducing products, increasing distribution, onboarding requisite talent to grow our business in the segment. We are in talks with financial investors to fund the next phase of expansion,” said Basavanhalli, without specifying the quantum of investment the company is looking to raise. An agreement is likely to be inked in 6-9 months.