### **Overview** Greaves Cotton Limited is a 165-year-old diversified engineering company headquartered in India, transitioning from its legacy as a leading single-cylinder diesel engine manufacturer to become a future-ready, full-stack mobility and power solutions provider. With a strategic focus on sustainability, innovation, and digital integration, the company has repositioned itself as a comprehensive ecosystem player in **Energy Solutions, Mobility, and Industrial Solutions**. --- ### **Strategic Direction: GREAVES.NEXT** In 2025, Greaves Cotton is executing its **'GREAVES.NEXT' strategy**, aimed at accelerating growth through three reinforcing dimensions: 1. **Accelerating core businesses** 2. **Building new capabilities within existing segments** 3. **Expanding into new markets and technologies via organic and inorganic growth** The company's long-term vision is to become a leader in sustainable, fuel-agnostic mobility and energy solutions, with a goal of **touching one billion lives by 2030** through green mobility adoption. --- ### **Core Business Segments** Greaves Cotton operates through five synergistic and largely independent business units, forming an integrated, digitally enabled ecosystem across the mobility value chain: | **Business Unit** | **Key Focus** | |-------------------|---------------| | **Greaves Engineering** | Design engineering and precision manufacturing of fuel-agnostic prime movers (diesel, CNG, ethanol, electric), gensets, industrial engines (1.5 HP to 700 HP), and motion control systems. | | **Greaves Electric Mobility Limited (GEML)** | A publicly listed EV subsidiary focused on affordable, sustainable electric two- and three-wheelers under the **Ampere** brand (e.g., Magnus, Nexus, Eltra) and e-rickshaws under **ELE**. | | **Greaves Retail** | India’s largest organized retail and distribution network for multi-brand spares, service, and sales (3S model) across 2Ws, 3Ws, SCVs, EVs, and construction equipment. Operates via **AutoEVMart** and **Greaves Care** franchise networks. | | **Greaves Finance Limited (GFL)** | A technology-driven NBFC operating the **ev.fin** platform, offering EV-specific financing solutions including loans, leasing, and ownership lifecycle products. | | **Greaves Technologies Limited (GTL)** | Engineering R&D and digital services provider delivering end-to-end solutions for global OEMs in automotive, EV, and industrial domains. | --- ### **Growth Strategy & Market Position** #### **1. Fuel-Agnostic Mobility Leadership** - Products span **diesel, CNG, LPG, biodiesel, ethanol blends, and electric** platforms, ensuring resilience against fuel volatility and regulatory shifts. - Key growth areas: **EVs (L3, L5), battery swapping, e-powertrains, and CNG-compatible systems**. - Maintains strong market presence in **Bihar (15.3%) and Tamil Nadu (13.9%)** for diesel three-wheelers as of Aug 2025. #### **2. Electric Mobility Expansion** - **GEML** is a top-five player in the Indian **electric two-wheeler (E2W) market**, holding **3.4% national market share** as of Q3 FY25. - Launched flagship models: - **Ampere Nexus** – India’s first high-performance family e-scooter with 3.3-hour fast charging. - **Eltra City XTRA** – L5 e3W cargo vehicle with 170 km range, 330 kg payload. - **NXG Scooter** – Fully connected e-scooter that completed a **Kashmir-to-Kanyakumari endurance drive (10,000+ km)**. - GEML filed a **DRHP for IPO**, with proceeds earmarked for **in-house battery assembly, technology development, and manufacturing expansion**. #### **3. Aftermarket & Retail Dominance** - Operates **10,000+ retailers**, **250+ distributors**, and engages **over 21,000 mechanics** across India. - **Greaves Care** franchise network has **230+ outlets**, providing multi-brand servicing including EVs. - Revenue from **EV components (14%) and spares (75%)** are key growth drivers; expanding into **construction equipment, HCV, and telecom energy management**. #### **4. EV Ecosystem Enablement** - **ev.fin** platform reported **₹7.79 crore in Q1 FY26 revenue (178% YoY growth)**, with **₹313 crore AUM (3.7x YoY)**. - Partners with **9 major EV OEMs** (Ather, Ola, Hero Vida, etc.) and offers bundled services like **ev.fin secure+** (warranty + roadside assistance). - Finance penetration for Ampere e-scooters reached **29–30%** by mid-FY23, demonstrating strong customer acceptance. --- ### **Technology & Innovation** - **ePowertrain Development**: In-house production of motors and controllers at Aurangabad facility; supplies multiple OE clients. - **Partnerships for Innovation**: - **Chara Technologies**: Co-developing **rare-earth-free EV motors**, enhancing sustainability and supply chain resilience. - **IndoFast Energy** (JV: IndianOil + SUN Mobility): Enabled **battery swapping** for Ampere Magnus SW.S, reducing downtime for delivery vehicles. - **ETA Green Power (UK)**: Joint development of **“Made in India” e-powertrains** with high localization. - **Smart Gensets**: Launched IoT-enabled generators with remote monitoring and predictive maintenance. - **Mechatronics**: Strengthened capabilities via **Excel Controlinkage acquisition**, now a Tier 1 supplier of **motion control systems**, including electronic throttle levers and gear-shift units. --- ### **Manufacturing & Global Footprint** - **Manufacturing Network**: 13 state-of-the-art facilities across India: - **Ranipet (Tamil Nadu)**: EV Mega Site with 500,000 units/year capacity. - **Aurangabad (Maharashtra)**: Industrial engines, e-powertrains. - **Noida, Hyderabad, Shendra**: 3W and component manufacturing. - **Exports**: Contribute **over 10%** (up to **28% in Q3 FY25**), with strong traction in **Africa, SAARC, Middle East, Europe, USA**, and Turkey. - Euro V+ compliant diesel engines exported to **European microcar markets**. - Motion control solutions from **Excel** serve **60+ countries**. --- ### **Key Developments in 2025** - **Brand Expansion**: Ampere retail presence growing in North & West India; exploring **EV exports to Sri Lanka (2Ws) and Africa (3Ws)**. - **Product Diversification**: Launch of **Xargo (cargo e3W)**, **Xyber (e-motorcycle with 200 km range)**, and modular e-powertrain solutions. - **Digital Integration**: Full lifecycle platform covering **sales, financing, insurance, resale, and service** via integrated data flows across business units. - **Sustainability Focus**: Transitioning genset and engine business to **"solutions-as-a-service" model** using RFID and digital monitoring. ---