Greaves Cotton stock price: Jumps 4.2% after subsidiary commences delivery of Nexus scooters in Bangalore

Greaves Cotton Limited‘s shares were up by 4.20 per cent after the company’s subsidiary, Greaves Electric Mobility Private Limited, announced the commencement of deliveries for the Nexus electric scooters in Bangalore. the company said that the Ampere Nexus is locally designed, developed, and manufactured in India,

The company said that the phased delivery of Nexus scooters will begin in the first week of June 2024 in Bangalore and extend throughout the month to ensure delivery to customers who pre-booked the scooter.

The company stated, “The response to the pre-bookings, which commenced last month at a starting price of ₹9,999, has been remarkable.”

K. Vijaya Kumar, Executive Director & CEO of Greaves Electric Mobility Private Limited, said, “Celebrating our 16th anniversary with the commencement of Ampere Nexus deliveries represents a significant milestone in our unwavering commitment to sustainable transportation. This occasion transcends the mere delivery of a high-performance electric scooter; it symbolises our resolute commitment to fostering a greener, more sustainable future.”

The Ampere Nexus is available in four colours. Zanskar Aqua, Indian Red, Lunar White, and Steel Grey and offers family-oriented features, comfort, style, performance, and safety to riders. Greaves Cotton informed that earlier this year, the vehicle completed journey from Kashmir to Kanyakumari, covering over 10,000 kilometres and setting four records recognised by the India Book of Records, including the longest electric scooter ride in a single journey.

Greaves Cotton share price rose 4.20 per cent to ₹120.45 at 12.25 pm on the BSE.

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