MLR Auto
Manufacturer of electric and conventional three-wheeled vehicles.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
* | $6.4m | Late VC | |
| Total Funding | 000k | ||
In 2009, MLR Auto was established in Hyderabad, India, with a focus on manufacturing three-wheeled vehicles. The company was founded by Lokeswara Rao Mullapudi, Kishore Babu Bollineni, and Srinivas Mullapudi. It produces a range of diesel, petrol, CNG, and electric three-wheelers, positioning itself in India's last-mile mobility market. A significant chapter for MLR Auto began in August 2021 when Ampere Vehicles, a subsidiary of Greaves Cotton, announced it would acquire an initial 26% stake in the company. This move was aimed at giving Ampere a foothold in the electric three-wheeler segment. The acquisition was part of a larger strategy by Greaves Electric Mobility to become a comprehensive player in last-mile electric transport. By October 2021, the 26% acquisition was complete, strengthening Greaves' presence in the market. Greaves Electric Mobility's investment and control continued to grow. Following non-participation from other shareholders in a rights issue, Greaves increased its stake to 67.41% in June 2025 after a further investment of ₹55 crore. More recently, as part of a planned IPO for Greaves Electric Mobility, the company announced its intention to use part of the proceeds, approximately ₹74 crore, to acquire full ownership of MLR Auto. This consolidates MLR Auto's role within Greaves' larger vision for an integrated electric mobility ecosystem.