Greaves Electric Mobility, the electric mobility arm of Greaves Cotton (NSE:GREAVESCOT, BOM:501455), has partnered with Indofast Energy to enhance last-mile transportation for B2B fleets and ride-sharing services through battery swapping, according to a Thursday filing to the Indian stock exchanges.
The two parties, through the partnership, have unveiled Ampere 'Magnus SW.S', powered by Indofast Energy's battery swapping technology that aims to reduce downtime for gig economy riders with quick battery swaps.
Customers can seamlessly replace depleted batteries with fully charged ones, reducing operational costs and enhancing efficiency.
Indofast plans to deploy over 50,000 vehicles in the next year through its fleet partners and driver-owners.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.