Moneycontrol PRO
you are here: HomeNewsBusiness

Greaves Electric fully acquires leading e-rickshaw brand Bestway Agencies

The company, which is the e-mobility arm of Greaves Cotton Ltd, has acquired 100 per cent stake in BAPL.

October 23, 2021 / 11:09 AM IST

Greaves Electric Mobility on Saturday said it has fully acquired Bestway Agencies Pvt Ltd (BAPL) which sells e-rickshaws under the ELE brand.

The company, which is the e-mobility arm of Greaves Cotton Ltd, has acquired 100 per cent stake in BAPL.

Last year in July, Greaves had acquired 74 per cent stake in the company.

"With this strategic acquisition, we have strengthened our position to become one of largest players now catering to 85 per cent of the last mile mobility segment,” Greaves Cotton Group CEO and MD Nagesh A Basavanhalli said in a statement.

E-rickshaw is one of the largest and fastest-growing categories of electric vehicles in India and offers sustainable, reliable, noise-free and most important cost-effective mobility to customers.

Close
It also increases the daily earning potential of the drivers migrants, unemployed youth. It also increases the daily earning potential of the drivers migrants, unemployed youth.
PTI
first published: Oct 23, 2021 11:09 am

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark