Greaves Cotton Launches New EV Vehicles at Auto Expo 2023
Engineering company Greaves Cotton (NS:
) on Wednesday unveiled its range of electric two-wheeler and three-wheeler electric vehicles at the ongoing Auto Expo 2023.
Company at the event unveiled three two-wheelers under the Ampere brand series -- Ampere Primus, Ampere NXG, and a multi-utility scooter Ampere NXU which can be also used for deliveries.
In the commercial three-wheeler segment, the company unveiled an electric passenger vehicle Greaves ELP, a cargo EV Greaves ELC and a futuristic cargo concept Greaves Aero Vision.
Greaves Electric Mobility Private Ltd, CEO, and Executive Director, Sanjay Behl said Ampere Primus will be available during the ongoing quarter, while the rest of the vehicles will be made available during the course of the next financial year. "Ampere Primus is now open for bookings across India. The rest of the vehicles will be launched in the next financial year," Behl said.
Greaves Cotton Executive Vice Chairman Nagesh Basavanhalli at the event shared the company's commitment to invest Rs 1,500 crore in the deployment of an indigenous electric vehicle ecosystem in the country since its entry into the e-mobility business.
We can witness a short-term bull rally in the stock to the levels of 167-172 because of the new product displayed during the expo. In long run, we can even witness the stock crossing 52 weekly high if the new products are appreciated by the customers and sales increase eventually in 2023.
Support is visible bearing the 128-133. Levels and long-term support are visible near the 94-98 levels.
Disclaimer: The above article is for self-educational purposes. The research was conducted by the following students: G10 and Annantji for learning purposes.
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