Greaves Electric Mobility, a manufacturer of electric two- and three-wheelers, intends to establish an internal battery pack manufacturing line at its Ranipet plant in Tamil Nadu by the fiscal year 2027. The company has filed documents for a public offering of shares.
The carmaker now buys battery packs that have been built from outside vendors. For electric two-wheelers, the battery typically makes up 35–40% of the production costs. The battery pack makes up around 33% of the total component prices for Ampere two-wheelers and 54% of the expenditures for its electric three-wheelers.
One of the company’s initiatives to increase cost effectiveness is in-house battery assembly. The cost of purchasing lithium-ion batteries accounts for more than 25% of the business’s overall spending.
The assembly line will be able to produce 400,000 units a year. It is anticipated that the assembly line would be put into service in May 2026, and commercial production will begin in July 2026.
With its planned IPO, the business hopes to raise Rs 1,000 crore. It will use Rs 82.9 crore of the net proceeds to build up the capacity for battery assembly. Greaves Electric is currently converting its electric two-wheelers to LFP batteries because of their longer lifespan and increased thermal resistance.
In order to save money, shorten charging times, and boost efficiency, the business stated that it intends to invest in creating battery packs using alternative battery technologies and testing out novel formulas.