India: Ampere Electric commits Rs 700 Crore, to set up EV Plant in Tamil Nadu
Proposed Ranipet facility has potential capacity up to 1 million units per annum
Ampere Electric announced a phased investment potential of INR 700 crore over 10 years to set up an e-mobility manufacturing plant in Ranipet, Tamil Nadu. A Memorandum of Understanding (MoU) to this effect was signed by the Company, with the Government of Tamil Nadu.
Ampere Electric’s Ranipet plant will have the potential to start manufacturing 100,000 units in its first year of operation and has the potential to scale to 1 million units per annum. This facility will be operational by 2021, providing employment opportunities to the local population. To be built on the principles of Industry 4.0, the Ranipet Plant will boast an advanced automation process for superior manufacturing capabilities.