Bengaluru: Ampere Vehicles Private Limited, the Coimbatore based electric vehicle manufacturer raises an undisclosed amount of funding, backed by Ratan Tata. The funding round also witnessed participation from existing investor Forum Synergies.. The company will utilize the funds for its research & development and to increase its network of dealerships. It also plans to expand their areas of operation to other cities. Previously, the company had raised Rs.20 crore from Forum Synergies and Axon Capital in 2013.
Founded in 2008 by Hemalatha Annamalai, Ampere is an Indian automobile manufacturer start-up that designs and trades electric vehicles like cycles, scooters, trolleys and special purpose vehicles for the disabled. Exploiting advanced chip integrated batteries, the company develops its own running technologies that include including chargers, motors and controllers. The company mainly targets its business towards rural and semi-urban markets, and claims to have sold over 20000 vehicles across Tamil Nadu, Karnataka and Kerala.