Ad

Ad

Reliance Industries to invest in EV Tech Firm Altigreen

ByUtkarsh Gusain|Updated on:10-Feb-2022 04:29 PM

Share via:


Follow Us:

google-news-follow-icon
noOfViews-icon

2,617 Views



ByUtkarsh Gusain

Updated on:10-Feb-2022 04:29 PM

noOfViews-icon

2,617 Views

share-icon

Follow Us:

google-news-follow-icon

Reliance Industries Ltd owned by the second richest man in India Mukesh Ambani, has decided to expand its share in the EV Industry buying share in the Electric vehicle company Altigreen which works on zero carbon emission technology.

Reliance Industries to invest in EV Tech Firm Altigreen

Reliance Industries Ltd owned by the second richest man in India Mukesh Ambani, has decided to expand its share in the EV Industry buying share in the Electric vehicle company Altigreen which works on zero carbon emission technology. Reliance has announced to acquire Rs.50.16 crore worth of their stakes this year. Reliance New Energy Ltd (RNEL), a subsidiary owned by the company is in the workings of completing the transactions of this deal by buying shares on face value of Rs.100 each.

Reports show that both companies are planning to seal the deal till March 2022. This investment is a way for both Reliance New Energy Ltd. and Altigreen to collaborate and work on the latest EV technologies and climb to the top in EV sector by launching state of the art machines. Reliance New Energy ltd. has also laid their roots in the solar energy sector which shows their focus on clean and sustainable energy.

Altigreen EV Technology:

Ad

Ad

Reliance Industries to invest in EV Tech Firm Altigreen

Altigreen is a Bengaluru based company which develops Electric Vehicles and work on the latest technological advances in the EV Industry. It is a made in India EV brand and a pioneer among other EV startups. They develop 2, 3 and 4 wheeler electric vehicles and manufacture these in their home-grown manufacturing units. The main focus of the company lies on the 3 wheeler commercial segment or as they call it, electric 3 wheeler cargo vehicles. Altigreen managed to generate a revenue of Rs.103.82 lakh in fiscal year 2020-21.

Altigreen has also received awards for its zero carbon emission EV technology from Economic Times, Niti Aayog, WorldWide Fund for Nature, ARAI, IoTNext, Elecrama, IDTechEx and more.

In Delhi, Altigreen has released its electric 3 wheeler cargo auto-rickshaw- Altigreen neEV, with an 11-kWh battery which provides a range of 125 km and a payload capacity of 550 kg which seems enough to do the job. For this project Altigreen joined forces with the electric fleet startup MoEVing and expand in Delhi-NCR region. Ahead of this investment of Reliance Industries we can expect to see more from Altigreen in the EV segment in upcoming years.


Follow Us:

whatsapp-follow-icon
instagram-follow-icon
youtube-follow-icon
google-news-follow-icon

Ad

Ad

Explore Other Cars Brands

Cars In India

Mahindra  BE 6e

Mahindra BE 6e

₹ 17.00 - 21.00 Lakh

Mahindra XEV 9e

Mahindra XEV 9e

₹ 50.00 - 52.00 Lakh

Audi New Q7

Audi New Q7

₹ 89.00 - 98.00 Lakh

BMW M3 Facelift

BMW M3 Facelift

₹ 1.47 Cr

Honda New Amaze

Honda New Amaze

₹ 7.50 - 10.00 Lakh

Ad

Ad

Ad