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Over the last few years, Greaves Cotton has successfully evolved from being a single-business, single-fuel company to a diversified, fuel-agnostic leader. Vice-Chairman Nagesh Basavanhalli shares his thoughts during an interaction withThe Hindu. Edited excerpts:
Can you share insights into Greaves Cotton’s evolution
The transformation of Greaves Cotton was driven by the imperative to future-proof our 160-year-old legacy amidst seismic shifts in market dynamics and consumer expectations. As early as 2016, we recognised the impending disruption from BS-VI regulations, the shift towards clean energy, and the rise of alternative technologies.
Our strategy focused on transitioning from a single-product, single-fuel business to a multi-revenue, multi-business, fuel-agnostic company. This approach allowed us to pursue multiple growth areas simultaneously, combining organic innovation with strategic acquisitions. At the core of our journey are three mantras: 1. B2B + B2C – bringing us closer to consumers. 2. Value chain extraction – maximising lifecycle value through an integrated ecosystem. 3. Fuel agnosticism – addressing diverse consumer needs across electric, CNG, diesel, and hybrid solutions.
What are the challenges did the company encounter during this transformation?
The transition from legacy single-cylinder diesel engines to a fuel-agnostic, multi-business model required bold decisions and strategic agility. Key challenges included developing entirely new capabilities in mechatronics, and software-driven solutions while reimagining our manufacturing processes to align with cleaner technologies like EVs.
This required substantial investments in R&D and a strategic shift toward high-growth sectors such as electric mobility, CNG and adjacent areas such as non-auto businesses, off-highway vehicles and trucks, amongst others.
Despite these challenges, the transformation opened up vast opportunities. We diversified our revenue streams, built a digitally connected ecosystem and strengthened consumer trust by delivering accessible, future-ready solutions.
Can you elaborate on the Greaves Engineering and Greaves Retail expansion?
Greaves Engineering addresses industry needs with fuel-agnostic engines, ePowertrains and application-specific solutions, empowering customers across sectors. Our foray into global markets further strengthened our reach and credibility.
Greaves Retail bridges the gap between manufacturers and consumers through a robust network of over 250 distributors, over 20,000 retailers and 25,000 mechanics. Our unique value proposition lies in our 3S model delivering comprehensive support to customers across a range of industries.
Can you share some key milestones for Greaves Finance?
Key milestones include strategic partnerships with leading OEMs, the introduction of innovative schemes such as buyback options and a streamlined loan approval process that sets new benchmarks in efficiency. By integrating bundled insurance services and leveraging co-lending partnerships, Greaves Finance simplifies the ownership journey, ensuring seamless and affordable access to sustainable mobility for millions.
What are the new technology and digital initiatives Greaves has adopted to enhance customer experiences?Greaves is building a comprehensive digital ecosystem that provides an end-to-end solution, encompassing product discovery, financing and lifecycle management.
The Greaves1 app, focused on genset servicing, simplifies maintenance and enhances service efficiency. The Greaves Upahar Loyalty App improves accessibility and rewards loyalty among mechanics, fostering stronger engagement. The ev.fin platform revolutionises EV financing.
Together, these initiatives lay the foundation for a fully integrated digital marketplace, enhancing customer experiences and delivering value across all touchpoints, positioning Greaves as a leader in innovative and inclusive mobility solutions.
How does Greaves Cotton envision its role in the future of engineering and mobility?
Our vision is to empower lives by driving sustainable innovation in engineering and mobility. We aim to create a digitally integrated ecosystem that delivers tailored, fuel-agnostic solutions, leveraging advancements in mechatronics, electrification and smart connectivity. With a focus on clean energy and innovation, we are shaping the next generation of mobility technologies that address market needs while promoting sustainability.
What are the company’s key priorities over the next five years?
Our focus is on building a robust, integrated ecosystem that connects products, services and solutions to enhance customer engagement.
By expanding across the value chain and scaling digital conversion, we aim to lead in clean technology adoption, foster innovation and deliver end-to-end experiences. Sustainability, customer proximity and talent investment will remain central to our strategy as we accelerate growth and create long-term value for stakeholders.
Published – December 28, 2024 07:38 pm IST
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Sustainability, customer proximity and talent investment will remain central to our strategy, says Greaves Cotton Vice Chairman
