Greaves Electric Mobility Acquires e-Rickshaw Company Bestway

Greaves Electric Mobility, the electric mobility arm of Greaves Cotton Limited has announced 100 per cent acquisition of Bestway Agencies Private Limited, which sells e-rickshaws under the popular ELE brand. In July 2020, the company first announced that it has acquired 74 per cent stake in Bestway and added the e-rickshaw brand as part of its portfolio offerings. With significant quarter on quarter growth, the company said in a statement that ELE e-rickshaws has also seen tremendous growth over the last year.

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Bestway's ELE E-Rickshaw has been one of the leading players in markets of Eastern India and Eastern Uttar Pradesh

"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.

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Ampere Vehicles says that it foresees rapid growth in the electric 3-wheeler segment as affordable mobility solutions in the post-COVID world will boost "employment generation at the bottom of the pyramid". Also, in addition to the B2C segment, Ampere plans to offer a complete product portfolio to its B2B customers who have requirements for electric three-wheeler for both people and cargo mobility.