Greaves Electric Mobility Ltd.

We are one of the first companies in India to focus on the evolving market of electric vehicles (“EV”) and have been among the frontrunners at driving EV adoption in the country according to the CRISIL Report. We offer a complete suite of vehicles across electric two-wheeler (“E-2W”) and three wheeler (“3W”) segments catering to both B2C and B2B customers for personal and commercial purposes. According to the CRISIL Report, we have been designing and manufacturing electric vehicles for over 16 years and have established a strong presence in the E-2W industry. We have drawn on the engineering expertise of the Greaves group, which is over 165 years old and has a strong “made in India” legacy. Our current portfolio of vehicles caters to a diverse customer base, with our offerings spanning E-2W across all three segments which are (a) high speed scooters which have a top speed higher than 65kmph (“High Speed e-Scooters”), (b) city speed scooters which have a top speed from 25kmph to 65kmph (“City Speed e-Scooters”) and (c) low speed scooters which have a top speed of less than 25kmph speed (“Low Speed e-Scooters”), with models for B2C and B2B use cases, and 3Ws which includes products across the entire spectrum of 3W mobility which includes electric three-wheelers (“L5 E-3W”), internal combustion engine three-wheelers (diesel or CNG) (“L5 ICE-3W”) and e-rickshaws (“L3 E-3W”), with models for cargo and passenger use cases.

Projects

1. Project Name: Investment for (a) product and technology development; and (b) enhancing capabilities at our Company

Project Cost: 375272

2. Project Name: Development of our Company’s in-house battery assembly capabilities

Project Cost: 829

3. Project Name: Funding expansion of the manufacturing capacity of BAPL

Project Cost: 198.94

4. Project Name: Funding expansion of the manufacturing capacity of MLR

Project Cost: 382.56

5. Project Name: Increasing our Company’s stake in our Material Subsidiary, MLR, through acquisitions

Project Cost: 736.67

6. Project Name: Increase digitization and deployment of information technology infrastructure by our Company

Project Cost: 278.02