Altigreen, a manufacturer of commercial electric vehicles, has increased its manufacturing and expansion capacities by opening a new production plant in Malur, Karnataka. This action follows a recent round of financing of Rs 300 crore, which was spearheaded by Sixth Sense Ventures, Reliance New Energy, Xponentia Capital, and other investors.
The Malur production plant, which spans 3 lakh square feet, is fully geared to produce 4,500 units each month, for a total yearly production capacity of 55,000 EVs.
This facility will be used by the business to develop new models and increase operations in domestic and foreign markets. To provide the best and cleanest last-mile transportation, it intends to aggressively expand its R&D and production capabilities while building a strong pan-Indian distribution network.