Greaves Retail, the retail arm of engineering company Greaves Cotton, announced on Friday, April 5, that it has entered into a strategic technology transfer agreement with EV parts maker Tsuyo Manufacturing to manufacture parts for low-speed three-wheelers.
“Greaves Retail, the retail arm of Greaves Cotton Limited (Greaves Cotton), which provides clean mobility and energy solutions in the e3W, ICE 3W and SCV segments, has signed a strategic technology transfer and supply agreement with Tsuyo Manufacturing Private Limited ” (Tsuyo) is an innovative Indian company specializing in electric vehicle components,” the company said in an exchange filing.
The partnership with Tsuyo includes the transfer of technology and know-how related to electric motors, wire-wound motors, and controllers designed specifically for these vehicles. “Through this partnership, Greaves Cotton expects significant growth opportunities in the 3W space, in line with its vision to drive sustainable mobility solutions,” the company said.
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Commenting on the partnership, Greaves Retail CEO Narasimha Jayakumar said, “Together we are poised to revolutionize the L3 segment and deliver unparalleled solutions that empower individuals and businesses.”
Mr. Vijay Kumar, CEO, Tsuyo Manufacturing Pvt Ltd.
Founded in 2020, Tsuyo Manufacturing is an Indian company specializing in the design, development and manufacturing of cutting-edge EV components. Tsuyo offers a wide range of solutions including electric motors, drives, converters, instrument panel designs, gearboxes, axles and e-Axle solutions.
Greaves Cotton shares rose 0.9% to end at ₹138.95 per piece on Friday, April 5.
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