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Altigreen increases production capacity with new production facility


Altigren’s move comes in the background Invest 300 crore at the beginning of this year.

Via :
Automatic table HT

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Update on:
November 6, 2022, 11:55 am

Altigreen is optimistic that through its new facility, the company will be able to encourage local employment
Altigreen is optimistic that through its new facility, the company will be able to encourage local employment

Commercial electric vehicle manufacturer Altigreen has opened a new production facility in Malur, Karnatak, to increase its production capacity. The new facility spans 30,000 sq ft and is fully equipped to produce 4,500 vehicles per month, with an annual capacity of 55,000 electric vehicles. With this move, the company aims to introduce automation in future lines, thus ensuring higher productivity.

This move took place in the context of The 300 crore investment earlier this year was led by Sixth Sense Ventures, Reliance New Energy, Xponentia Capital and others. This funding has enabled Altigreen to greatly enhance its R&D and manufacturing capabilities and develop a strong distribution network across India.

Also read: How to choose the best electric car for you?

Altigreen is optimistic that through its new facility, the company will be able to encourage local employment and skill development of workers across India. To buy the workforce for the factory, Altigreen made an extensive recruitment drive to board 70 institutes across the state. “As part of this recruitment, we also aim to empower women in the factory. The company has secured a mix of male and female employees in different production areas of Neev vehicles.

Currently, the electric vehicle manufacturer is working with 167 domestic and international suppliers, with a total staff of 975 employees, of which 700 are performing senior roles. The company’s products have more than 93% domestic value added (excluding lithium batteries not yet manufactured in India) and the company plans to continue its commitment to localization of its products and capabilities. themselves in future vehicle formats that they launch in the next quarter.

Altigreen’s sales and marketing office is currently located in Pune and at the same time the company is gradually expanding its footprint and aiming to establish a regional office in Delhi.

First published date: November 6, 2022, 11:53 AM IST

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