Greaves Retail to launch Multi-Brand EV Retail Store ‘AutoEVmart'; stock slips ~1.5%

14 Jul 2022 , 01:49 PM

Greaves Retail, the retail arm of Greaves Cotton Limited, inaugurated AutoEVmart, its multi-brand EV retail store in Thiruvananthapuram, as part of the retail strategy to create a pan-India multibrand footprint.

This is consistent with Greaves' ongoing investment in various e-Mobility initiatives aimed at creating an unrivaled EV ecosystem, which includes superior electric 2W/3W, affordable vehicle finance, and a national network of after-sales and retail.

Sree Padmanabha Dasa Avittam Thirunal Adithya Varma, Prince of Travancore, inaugurated the store. Greaves' commitment to transforming last-mile mobility, reimagining the EV landscape, and fostering the zero-emissions vision in India will be strengthened by AutoEVmart.

EVs are seeing a significant increase in demand, and Thiruvananthapuram is rapidly growing as a result of favourable government policies and changing consumer attitudes. To accelerate clean mobility adoption, the store will reach out to customers in both B2B and B2C segments. To meet rising EV demand, the store will offer EV vehicles from over 14 leading EV brands under one roof.

AutoEVmart will improve the customer experience by offering e2W scooters, e3W scooters, and e-cycles, as well as quick service, financial assistance, spare parts, and accessories, among other things.

For a better consumer experience, AutoEVmart also provides vehicle financing and charging space at the outlet. Greaves Retail will launch AutoEVmart, a unique multi-brand EV retail business segment, in September 2021.

Greaves Cotton was trading at Rs153.80 down by Rs2.2 or 1.41% from its previous closing of Rs156 on the BSE. The scrip touched intraday high and low of Rs158.50 and Rs153.40 respectively.