Ratan Tata, chairman emeritus of Tata Sons, has invested an undisclosed amount in Ampere, a Coimbatore-based electric vehicle start-up founded by a woman entrepreneur.
Mr. Tata made the investment along with Ampere’s existing investor, Forum Synergies. The start-up, founded by Hemalatha Annamalai, will use the funds to scale up operations and hire talent over two years.
Ampere is the first automobile start-up investment for Mr. Tata, who conceived Nano, now one of the world’s cheapest cars. Ampere manufactures economical electric scooters, e-cycles, e-three wheelers, customised e-vehicles for the differently-abled, and EV chargers. It currently has dealers in Karnataka, Kerala and Tamil Nadu.
Ampere will use the funds to scale up operations and hire talent, was all she said, promising to talk later in the day.
As news went viral (aboout Ratan Tata’s investment in a Coimbatore-based company) excitement filled the air not just at Ampere, but across the city.
The founder CEO of Ampere was recognised for the CII Regional Emerging Entrepreneur Award earlier this year.