Greaves Electric Mobility Limited (GEML), a subsidiary of Greaves Cotton Limited, announced today a strategic partnership with Indofast Energy to introduce battery swapping technology for electric two-wheelers aimed at the B2B fleet and ride-sharing markets.
The shares of Greaves Cotton Limited were trading at ₹236.64 up by ₹1.35 or 0.57 per cent on the NSE today at 11.58 am.
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The collaboration unveils the Ampere ‘Magnus SW.S’, specifically designed for gig economy riders who travel more than 100 kilometers daily. The new model will leverage Indofast Energy’s growing battery-swapping network, allowing riders to replace depleted batteries with fully charged ones to minimize downtime.
The Magnus SW.S features a 2.4 kW motor for improved gradeability, a payload capacity of 151 kg, and IoT connectivity for fleet management. According to Rajat Malhan, Senior Vice President at Indofast Energy, the companies plan to deploy over 50,000 vehicles in the next year through fleet partners and driver-owners.
Indofast Energy, a 50-50 joint venture between Indian Oil and SUN Mobility, currently operates more than 670 swap stations across 20+ cities, handling over one million battery swaps monthly.
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This partnership strengthens GEML’s position in the electric mobility sector while addressing the evolving needs of last-mile transportation with sustainable solutions that aim to reduce operational costs for commercial operators.