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Greaves Cotton share price jumps on multi-brand EV retail foray

These will be the first of its kind multi-brand retail stores for clean tech or electric mobility. We will start first with Bangalore. We will gauge the response and then we will go to the other major EV cities in the country," said Nagesh Basavanhalli, Managing Director and Group CEO at Greaves Cotton.

September 09, 2021 / 11:22 AM IST
Greaves Cotton Ltd.

Greaves Cotton Ltd.

 
 
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Greaves Cotton share price jumped over 4 percent intraday on September 9 after the company entered into multi-brand EV retail segment.

The diversified group company announced its entry in the multi-brand electric vehicle retail segment. "These will be the first of its kind multi-brand retail stores for clean tech or electric mobility. We will start first with Bangalore. We will gauge the response and then we will go to the other major EV cities in the country," said Nagesh Basavanhalli, Managing Director and Group CEO at Greaves Cotton.

Introduced under the brand name AutoEVMart, the platform serves as a marketplace for EVs in the country, will offering e-two-wheelers and e-three-wheelers, among others, along with accessories, Greaves Electric Mobility said.

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"AutoEVmart" platform is a concept that will enable consumers with a wide range of electric vehicles to choose from Ampere Electric to other brands in the EV space, said a release.

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"AutoEVmart is part of our larger strategy to create an EV ecosystem which is built on wider choice, convenience and unique experience to consumers," Greaves Cotton Managing Director and Group CEO, Basavanhalli said on the retail store concept launch.

The stock was trading at Rs 144.15, up Rs 6.20, or 4.49 percent. It has touched an intraday high of Rs 144.80 and an intraday low of Rs 136.60.
Moneycontrol News
first published: Sep 9, 2021 11:22 am

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