New Delhi: In 2018, Greaves Cotton Ltd, an engine manufacturer that traces its origins back to 1859, sensed an opportunity in the country’s nascent electric two-wheeler market. And that made it do something unusual for an auto ancillary company—it entered the world of vehicle manufacturing, acquiring a majority stake in the Ratan Tata-backed electric scooter maker Ampere for ?77 crore. Within a year, the Mumbai-based company increased its stake for a total investment of over ?120 crore. Down south, the Murugappa Group’s Tube Investments of India Ltd had entered the electric vehicle (EV) segment back in 2008 with a scooter…