The company said its e-mobility business, Greaves Electric Mobility, has adopted the Siemens Xcelerator portfolio of software and services to design, and develop its electric 2 & 3-wheeler vehicles for the Indian market.
Greaves Cotton said that the initiative re-affirms the group's vision to popularize EV adoption and bring affordable, sustainable, last-mile mobility to India's rapidly burgeoning EV ecosystem.Siemens' NX software for product design and engineering and Teamcenter software for Product Lifecycle Management (PLM), from the Siemens Xcelerator portfolio, will help Greaves Electric Mobility to develop products faster by streamlining and accelerating the product development process through an integrated set of digital product engineering and collaboration capabilities.
These solutions will enable GEMPL to shorten development time by efficiently utilizing digital twins and connecting people and processes across functions. Specifically, digital capabilities will be enabled in the areas of requirements engineering, program planning, mechanical, electrical, and software design management, bill of material management, process, and change management.
The EV industry in India is fast-growing, spurred on by demand to reduce the adverse effects of vehicular emissions in the region, and supported by targeted government purchase incentives such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India (FAME) II scheme. With a passion to revolutionize everyday mobility, GEMPL dreams of a sustainable future with eco-friendly mobility within everyone's grasp. The launch of Ampere EVs, enabled by investments in research and innovation, is a step towards realizing that vision. With a highly accessible and democratized product portfolio of electric two & three-wheelers, Greaves Electric Mobility has emerged as one of the fastest-growing EV brands in the country, registering primary sales of 63k + units as of YTD September FY23.
Sanjay Behl, CEO, and executive director, GEMPL said, "India's EV ecosystem is on the cusp of tremendous growth, with increasing demand from consumers for sustainable and affordable personal mobility Siemens' toolset will enable us to reduce the time-to-market introduction of electric two-wheelers under Ampere, as well as help to contribute to the country's goal of achieving 80% EVs in two and three-wheelers by 2030 and net zero carbon emissions by 2070."
"We are delighted to contribute to GEMPL's vision for revolutionizing the mobility space in India with eco-friendly EV product offerings. The Siemens Xcelerator portfolio will enable GEMPL to achieve a faster time-to-market for their electric two (E2W) and three-wheelers (E3W) by supporting an agile product development process," said Mathew Thomas, vice president, and managing director - India, Siemens Digital Industries Software.
Greaves Electric Mobility, the electric mobility business of Greaves Cotton, has been in the business of EV technology, designing and manufacturing electric vehicles for the past 13 years. With a strong base of over 1.70 lakh (170,000) customers backed by comprehensive EV ecosystem support from Greaves, GEMPL is pushing boundaries to create an affordable and sustainable ecosystem for uninterrupted clean last-mile mobility solutions in the country. GEMPL has a strong presence in both electric 2-wheelers and electric 3-wheelers segments. Under electric 2-wheelers, 'Ampere' is a fast-growing e-scooter brand in the country with a strong presence in both B2C and B2B segments while Bestway, with ELE brand and MRL Auto, with Teja brand are the other two fast growing businesses in the 3-wheelers segment.
Greaves Cotton is a diversified multi-product and multi-location engineering. The company today manufactures products and solutions under various business units.
Greaves Cotton reported consolidated net profit of Rs 28.88 crore in Q2 FY23 as against net loss of Rs 23.39 crore in Q2 FY22. Revenue from operations climbed 87.09% to Rs 698.81 crore in Q2 FY23 compared with Rs 373.51 crore in Q2 FY22.
Shares of Greaves Cotton fell 2.43% to Rs 128.75 on the BSE.
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