Over the past few years, Greaves Cotton has successfully evolved from a single-business, single-fuel company to a diversified, fuel-agnostic leader. Vice-chairman Nagesh Basavanhari shared his thoughts in a conversation with The Hindu. Edited excerpt:
Can you share some insight into the evolution of Greaves Cotton?
Greaves Cotton’s transformation was driven by the need to future-proof our 160-year heritage as market dynamics and consumer expectations change dramatically. Back in 2016, we were aware of the impending disruption from BS-VI regulations, the transition to clean energy, and the rise of alternative technologies.
Our strategy focused on moving from a single-product, single-fuel business to a multi-revenue, multi-business, fuel-agnostic company. This approach has enabled us to pursue multiple growth areas simultaneously, combining organic innovation and strategic acquisitions. Three tenets are central to our approach: 1. B2B + B2C – brings us closer to the consumer. 2. Value chain extraction – Maximize lifecycle value through an integrated ecosystem. 3. Fuel agnostic – caters to diverse consumer needs across electric, CNG, diesel and hybrid solutions.
What challenges did the company face during this transformation?
The transition from traditional single-cylinder diesel engines to a fuel-independent multi-business model required bold decisions and strategic agility. Key challenges included developing entirely new capabilities and software-driven solutions in mechatronics while rethinking manufacturing processes for cleaner technologies such as EVs.
This required significant investment in research and development and a strategic shift towards high-growth sectors such as electric mobility, CNG, and adjacent areas such as non-automotive operations, off-highway vehicles, and trucks.
Despite these challenges, the transformation has opened up vast opportunities. By providing accessible and future-ready solutions, we have diversified our revenue streams, built a digitally connected ecosystem, and strengthened consumer trust.
Can you tell us more about the expansion of Greaves Engineering and Greaves Retail?
Greaves Engineering addresses industry needs with fuel-independent engines, e-powertrains and application-specific solutions, empowering customers across all sectors. Our expansion into global markets has further strengthened our reach and credibility.
Greaves Retail bridges the gap between manufacturers and consumers through a robust network of more than 250 distributors, 20,000 retailers and 25,000 mechanics. Our unique value proposition lies in our 3S model, which provides comprehensive support to customers across a variety 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 buyout options, and a streamlined loan approval process that sets new benchmarks for efficiency. By integrating bundled insurance services and leveraging co-financing partnerships, Greaves Finance simplifies the ownership process and ensures seamless and affordable access to sustainable mobility for millions of people.
What new technologies and digital initiatives has Greaves adopted to improve the customer experience? Greaves has developed a comprehensive digital ecosystem that provides end-to-end solutions, including product discovery, financing and lifecycle management. We are building a system.
The Greaves1 app focuses on generator servicing, simplifying maintenance and increasing service efficiency. The Greaves Upahar loyalty app improves accessibility, rewards loyalty and fosters stronger engagement among mechanics. The ev.fin platform revolutionizes EV finance.
Together, these efforts lay the foundation for a fully integrated digital marketplace that improves the customer experience and delivers value across all touchpoints, making Greaves a leader in innovative and comprehensive mobility solutions. It is positioned as
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 build a digitally integrated ecosystem that leverages advances in mechatronics, electrification and smart connectivity to deliver customized fuel-independent solutions. With a focus on clean energy and innovation, we are shaping the next generation of mobility technologies that meet market needs while promoting sustainability.
What are the company’s key priorities for the next five years?
We are focused 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 transformation, we aim to lead the adoption of clean technology, drive innovation and deliver end-to-end experiences. Sustainability, customer proximity and investment in our people will remain at the heart of our strategy as we accelerate growth and create long-term value for our stakeholders.
issued – December 28, 2024 7:38 PM IST
