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Greaves Electric Mobility Limited (GEML) has increased its stake in MLR Auto Limited from 51% to 67.41% by investing Rs 55 Cr via a rights issue. MLR, a maker of diesel, petrol, CNG, and electric L5 category 3-wheelers, reported a turnover of Rs 142.28 Cr in FY25, doubling over three years. The additional funds will help MLR repay existing loans (excluding those from GEML), strengthening its balance sheet. This move deepens GEML's control over a fast-growing electric mobility business, supporting its expansion in electric and alternative fuel vehicles.