2023-12-20 00:25:00
Former essayist, turned engineer and successful entrepreneur, Hemalatha Annamalai, has proven herself a force to be reckoned with in the electric vehicle industry. Having spent twelve years as the CEO of Ampere, a company specializing in electric two-wheeler products, Hemalatha managed to turn the company into a Rs 100 crore giant within a decade. The company’s remarkable growth attracted investments from seasoned industry leaders such as Ratan Tata and Krish Gopalakrishnan, further solidifying Hemalatha’s unique identity as an entrepreneur.
Prior to her foray into the electric vehicle industry, Hemalatha had a background in computer engineering and had worked in the service sector in Singapore for an extended period of time. It was her husband who first directed her towards electric vehicle manufacturing and, as an engineer specializing in electronics, Hemalatha quickly grasped the potential of electric vehicles as a sustainable and environmentally friendly alternative to traditional fuel vehicles.
Recognizing that the Indian market had different expectations and demands from those in other countries, Hemalatha focused on adapting foreign technology to suit Indian roads and climate and the population’s need for economical transportation. She also sought to develop indigenized technology to cater to the specific needs of the Indian market.
Under her leadership, Ampere decided to manufacture everything in-house, resisting the trend of entering into partnerships with foreign companies for technology and sales channels. She worked on refining the technology and production processes and persevered through hardships, such as the sudden cessation of government subsidies for electric vehicles.
After overcoming numerous obstacles, including a temporary halt to subsidies, economic downturn, and technical challenges, the company saw steady growth in revenue and production capacity, culminating in a sale to Greaves for Rs.100 crores in 2020.
Hemalatha Annamalai’s success story is emblematic of the opportunities that have opened up for entrepreneurs in India, particularly in the wake of initiatives such as Make in India and Start Up India. With her experience and success, Hemalatha hopes to inspire other women entrepreneurs to seize the opportunities that are now more readily available. She credits her family, mentors, and the supportive environment in Coimbatore for making her success possible. Her advice to aspiring entrepreneurs, particularly women, is to remain steadfast, identify market needs, and not be dissuaded by challenges.
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