Greaves Cotton to close down Ranipet plant

CHENNAI: As part of a restructuring process Greaves Cotton has closed down its factory in Ranipet and has shifted the entire engine production to its Aurangabad plant.
The decision said Nagesh Basavanhalli, group CEO & MD, has led to “both operations and people side redundancies”. The company, “is still figuring out strategic plans and evaluating all opportunities and there has been no decision yet on whether to sell the closed plant or offer it for contract manufacturing”.
While the plant has been shut, the company’s e-vehicle subsidiary Ampere is witnessing a demand comeback. “On the personal mobility front, demand is coming back up and Ampere now has 20% plus market share,” said Basavanhalli.
“We added 40 new dealerships post lockdown 1 and now have 220 dealerships in all,” he said.