Ampere acquires Noida-based e-rickshaw company Bestaway Agencies

Ampere Vehicles, a fully-owned electric mobility subsidiary of Greaves Cotton Ltd., announced the acquisition of Bestway Agencies Pvt. Ltd.(BAPL), Noida-based E-3W company that sells e-rickshaws under the popular ELE brand.

With the acquisition of 74 percent stake in the company, the e-mobility arm of Greaves Cotton plans to expand its presence in the fast-growing e-rickshaw segment with the view to become a key e-mobility player in the last mile passenger and cargo e-mobility with a strong presence in both E-2W and E-3W segment.

"With the acquisition of Bestway, Ampere has now embarked on a new journey to provide clean, safe, and sustainable shared mobility solutions through E-3Wheeler and become a leading player in building and strengthening the country’s EV ecosystem, ” said  BVR Subbu, Chairman, Ampere Vehicles. 

Bestway’s ELE e-rickshaw has been one of the top 3 brands in the organized e-3W segment in markets of Eastern India and Eastern UP. Bestway also has a strong B2C presence in the mass market passenger segment and it recently entered new segments of cargo carrier and B2B commercial mobility with custom-built applications.

Commenting on this milestone Nagesh Basavanhalli, MD & CEO of Greaves Cotton Ltd., and Director, Ampere Vehicles said, "The acquisition will further strengthen Ampere's relationship with the Indian consumer by adding last-mile mobility products and services for the uninterrupted journey, enhancing productivity across E-2W & E-3W spectrum.

"Combining Ampere’s and Bestway’s expertise will help in further boosting the company’s growth and strengthen market positioning as a leading e-mobility business in India,” Basavanhalli added.

While a large part of the e-3W segment in India remains unorganized, it is one of the fastest-growing category of electric vehicles in India. It offers clean and affordable shared mobility option in a cost-effective way to customers and also increases the daily earning potential of the driver community.