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Greaves Cotton launches electric scooter Zeal; Pan-India roll out in next 45 days

Updated : May 30, 2019 03:14 PM IST

Engineering firm Greaves Cotton rolled out its high-speed electric scooter Zeal, priced at Rs 66,950 (ex-showroom Bengaluru with subsidy). Launched by Ampere Vehicles under FAME-II scheme, the e-scooter will get a subsidy of Rs 18,000. It has a top speed of 55 kmph and a range of 75 km with charge time of 5.5 hours, the company said.

Ampere Vehicles is the e-mobility arm of Greaves Cotton and has a significant presence in the domestic electric two-wheeler segment.

The launch is part of the company's strategic initiative to strengthen and expand presence in last-mile e-mobility space.

In an interview to CNBC-TV18, Nagesh Basavanhalli, MD and CEO, Greaves Cotton said, "Ampere Vehicles is a complete EV ecosystem player with a comprehensive offering of products, services and aftermarket support. We remain committed to bringing about transformation in next-generation mobility solutions."

“Our goal is to be at an operational breakeven or EBITDA breakeven in the next 12-24 months. With higher revenues and newer product expansion it definitely will go a long way to get into that target.”

“FAME II, with the localisation content we are also evaluating the impact of localisation and where we stand. I think we are headed that way, Greaves, as you know, has always shown profitable growth. So we will be targeting towards that,” he added.

Speaking about Zeal’s launch in the other parts of the country, Basavanhalli said, “The plant is rolling out the products and I think over the next 30-45 days you will see all of our dealerships start getting the products Pan-India.”
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