Greaves Electric Mobility Expands B2B Fleet Operations Through TriEV Partnership

Greaves Electric Mobility Ltd. (GEML) announced the expansion of its B2B fleet operations through a deepened partnership with TriEV, an electric fleet operator focused on last-mile delivery and green mobility solutions. The collaboration involves deploying Ampere Magnus SW S vehicles for the bike taxi segment across Delhi NCR, with plans to scale operations from the current 850 units to over 1,500 vehicles in the coming months.

The partnership addresses India's growing demand for sustainable urban mobility solutions, particularly in the commercial transportation sector where electric vehicles are gaining traction due to operational cost benefits and regulatory support for clean transportation.

TriEV currently operates over 850 Ampere Magnus SW S vehicles across Delhi hubs and plans to expand the fleet significantly. The Magnus SW S model has been developed specifically for B2B applications and is being deployed in collaboration with Indofast Energy, which provides energy infrastructure and battery-swapping solutions to enhance operational uptime and fleet efficiency.

The Ampere Magnus SW S is manufactured at Greaves Electric Mobility's MegaFactory facility in Ranipet and has been purpose-built for urban logistics operations. The vehicle offers specifications designed for commercial use including range, comfort, and durability features suited to fleet operations.

The company is also exploring entry into non-swap markets with a variant offering 100km+ range on the same Magnus platform, indicating plans to expand beyond battery-swapping infrastructure requirements.

Greaves Electric Mobility Limited operates as the electric mobility business unit of Greaves Cotton Limited, a 165-year-old engineering company. GEML has been designing and manufacturing electric vehicles for over 16 years and maintains a presence in the electric two-wheeler segment.

The parent company, Greaves Cotton Limited, operates through five business units including Greaves Engineering, Greaves Electric Mobility Ltd., Greaves Retail, Greaves Finance Ltd., and Greaves Technologies Ltd. The company aims to transition toward fuel-agnostic, end-to-end mobility solutions and targets reaching one billion lives by 2030 through its sustainability initiatives.

Greaves Electric Mobility is currently preparing for an initial public offering, having filed a draft red herring prospectus with SEBI and stock exchanges in December 2024.