Ratan Tata-backed electric bike company Ampere Vehicles is setting up an electric cycle factory in Coimbatore to cater to both domestic and international markets. Ampere has roped in Meera Menon, formerly a business consultant with Tata Consultancy Services (TCS), as chief operating officer (COO) to spearhead the company’s growth. Meera will be taking over effective July 1, sources told FE. The company makes and sells electric scooters, electric-three wheelers and goods vans. The move to set up a new factory for cycles is triggered by a surge in demand from domestic market as well global markets, the company said.
When contacted, Hemalatha Annamalai, CEO, Ampere Vehicles, said: “We are setting an e-cycle factory completely managed by women at Coimbatore with a initial capacity of 100 to 150 units a month. The new factory will make different kinds of e-cycles to cater to both domestic and export markets.”
According to her, the move to have a dedicated facility is also triggered by an export order from a German company. The German order is for Angel branded e-cycles as well Trishul-branded indoor mobility vehicles. She, however, declined to share the exact details of the export order. The company is also holding talks with number of companies abroad for exports, she added.
To a specific question total capacity of e-bikes, she said: “We have an installed capacity to make 50,000 units per annum, however we are currently producing at 50% of the capacity. We see surge in demand owing to lower GST rate on electric vehicles (12%) as well our entry into e-commerce platforms. With our entry into global market, we have decided to ramp up our production to reach full capacity in the current fiscal.” The company is in talks with leading e-commerce companies for the same, she said.
“The company is in talks with existing investors such as Ratan Tata, former CEO of Infosys Krish Gopalakrishnan, and early stage investors such as Forum Synergies, Axon Capital, NuVentures and few other individuals to raise fresh round of funds for our capacity expansion, new e-bcycle facility as well e-commerce marketing,” Hemalatha said.