Upfront

Nagesh Basavanhalli, Managing Director and Chief Executive Officer, Greaves Cotton Ltd.

Q. How much does the emobility business contribute to the overall revenue? Did you anticipate the kind of growth you’ve registered with this new business?

A. As seen from the last annual report, new mobility businesses are now contributing to more than 15 percent of our revenue. As you are aware, we are in the affordable mobility space offering uninterrupted journeys. I think in terms of growth, it will come from the electric two-wheeler and erickshaw segment backed by allied segments. We’ve reported a 21 per cent market share in the new mobility business attributed to Ampere Electric. We believe at the Rs.35,000-80,000 price bracket, we are well poised catering to the heart of the market.

Q. Your major clients in the EV space and any 100 percent key clients?

A. We do have OE clients like Big basket of Innovative Retail Concepts Private Ltd., the bike-sharing startup Bounce and we continue to add more.

Q. You’ve been a strong player in the three-wheeler combustion engines. Are you confident of replicating that success with the BAPL acquisition?

A. Greaves has been a strong player in the affordable, last-mile mobility segment. When you look at the 70 per cent market share in the engine, three-wheeler and the passenger-cargo segment it compounds to be the entire segment in India. Together with Ampere in the two-wheeler space and Bestway Agencies Pvt. Ltd. (BAPL) opening new fronts in the electric three-wheeler segment we stand a good chance of being one of the organised players who can cater to affordable last-mile mobility and offer the entire ecosystem. It all adds up with building products for the duty cycle, service, spares and finance.