Greaves E-Mobility Acquires 26 Percent Stake In E3W Company MLR Auto Ltd

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With this strategic acquisition, Greaves e-mobility has said that it has strengthened its position to become one of the largest player in the last mile mobility segment

Greaves Cotton Limited’s e-mobility arm Greaves Electric Mobility has announced that it has acquired a 26 per cent stake in electric-3 wheeler manufacturer MLR Auto Ltd with an aim to strengthen its position as one of the largest end-to-end players in the last mile mobility segment.

The company said in a statement that the recent acquisition would offer it the opportunity to secure a higher market share as logistics and delivery services drive the demand for higher load-bearing commercial electric cargo vehicles.

P Sanjeev, Executive Director, MLR Auto, “We are now prepared to compete in the e3W sector of cargo and passenger transportation in the commercial clean mobility space through the acquisition of MLR Auto Ltd. We anticipate an increase in consumer demand and logistics requirements because of low-cost delivery demand for e-commerce, institutional needs and municipal sales. The acquisition is aligned with our objective to expand clean last-mile mobility.”

According to the Economic Forum Report – the volume of delivery vehicles in the top 100 cities in the world will thus rise by 36 per cent as we approach 2030. As the country is swiftly moving towards electrification, it is imperative for businesses to adapt.

Greaves electric mobility wants to play a pivotal role in transforming the transportation landscape with a wide range of products including customized applications enabling micro entrepreneurs to build their dream business-on-wheels.

With this strategic acquisition, Greaves e-mobility has said that it has strengthened its position to become one of largest player now catering to 85 per cent of the last mile mobility segment.

Besides energy efficient products, the company has invested in complete aftermarket support, retail financing solutions with tie-ups from various partners.

Greaves also has a retail footprint of nearly 7,000 touchpoints; 12,000 mechanics and a Greaves Retail network backed by multi-brand sales, service and mobility enablement solutions.

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