Partnership Details
Ampere, the electric two-wheeler brand of Greaves Electric Mobility Limited, has entered into a partnership with Muthoot Capital Services Ltd, one of India's trusted retail NBFCs. The partnership was announced on 28th July 2026 and aims to accelerate electric vehicle adoption across India by making EV ownership more accessible and affordable.
Financing Solutions
The collaboration will offer convenient, flexible, and customer-centric retail financing solutions for Ampere's complete range of electric two-wheelers. The partnership is designed to bridge affordability barriers by offering financing solutions tailored to diverse income profiles and mobility needs, including salaried professionals, self-employed individuals, gig workers, and small business owners.
Executive Commentary
Manoj M. P., Chief Business Officer of Greaves Electric Mobility, stated: "Our partnership with Muthoot Capital Services Ltd. brings together trusted and our growing electric two-wheeler portfolio to offer seamless and customer-centric ownership solutions. Together, we aim to remove financial barriers, empower customers with greater choice and convenience."
Mathews Markose, CEO of Muthoot Capital Services Ltd., commented: "Our partnership with Ampere brings together two trusted brands with a shared vision of democratizing access to electric mobility. With our deep understanding of retail financing, extensive customer reach, and technology-enabled lending capabilities, we are committed to delivering seamless, transparent, and affordable financing solutions."
Company Background
Ampere has over 18 years of experience in designing and manufacturing electric vehicles and has established a strong presence in India's electric two-wheeler market. GEML continues to strengthen customer accessibility through expanding product portfolio, growing dealer network, and strategic partnerships. The company holds 8 India Book of Records and 1 Asia Book of Records titles.
GEML operates three manufacturing plants located in Hyderabad, Noida, and Ranipet, and supports its network through 400 dealer touchpoints across India. The company is backed by the 165-year legacy of Greaves Cotton Limited.
Expected Impact
The partnership is expected to accelerate EV adoption across India through Muthoot Capital's 500+ pan-India touchpoints, ensuring seamless customer support. The collaboration will strengthen GEML's market presence by supporting dealer growth and expanding access to clean mobility solutions.
Additional Context
Greaves Electric Mobility Limited has filed a draft red herring prospectus dated December 23, 2024 with SEBI and stock exchanges for a proposed initial public offering, subject to requisite approvals and market conditions.