Altigreen, an electric vehicle manufacturer, opens its first store in Bengaluru.

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Updated On: 22-Sep-2022 01:03 PM

Altigreen's retail dealership launch focuses on offering its customers an upgraded and never-before-seen experience through world-class and sophisticated infrastructure.

Altigreen, India's premier EV manufacturer, opens its first retail dealership in Bengaluru in the presence of Karnataka Minister Dr CN Ashwath Narayan.

During the occasion, the minister praised Magnum Ventures for its efforts in leading India's Electric Vehicle (EV) transformation with its advanced commercial EVs, while also thanking Magnum Ventures owner, Dr MP Shyam, for the establishment of the dealership.

Altigreen's retail dealership launch focuses on offering its customers an upgraded and never-before-seen experience through world-class and sophisticated infrastructure. Every aspect of the business has been meant to be pleasant, especially to the curious autorickshaw drivers that wander in. Altigreen has gone to different levels to ensure that the dealership embodies the company's culture of respect, and empathy, and establishes consumer trust through open discussion.

"The concern for the environment has encouraged people to raise their interest in electric vehicles," Dr CN Ashwath Narayan said on the occasion. “Not only that but the cost of fuel can be significantly reduced because it only requires a few units of electricity. According to current predictions, the market for electric vehicles will be valued at INR 475 billion by 2025. I'd like to congratulate Altigreen on the launch of its first dealership in the city. This dealership will make EVs more accessible to Bengaluru residents, enticing them to switch from fossil fuels to electric."

The dealership's inauguration began with a lamp lighting ceremony, during which Dr Amitabh Saran, Founder & CEO of Altigreen, addressed those in the audience. Dr Saran highlighted Altigreen's plans and expansion plans. "In the B2B category, the company is well-positioned to respond to the needs of major institutional customers and expects to take the lead. Altigreen also believes it is critical to cater to Market Load Operators (also known as the B2C segment), who account for up to 80% of the overall market. I'd like to thank Minister Dr CN Ashwath Narayan for his presence and encouragement. The first retail dealership in Bengaluru marks the beginning of our effort to create a national presence. Innovation and R&D are at the heart of our expansion. We will continue to deliver the most modern EVs that are most suited for Indian cargo and passenger mobility demands in the future. Dealer and channel partners will be the driving force behind market the expansion and our rapid growth. In the following six months, we plan to expand to the top 40 cities."

Dr MP Shyam, Owner of Magnum Ventures, also spoke on the occasion, saying, "It brings us enormous pleasure to work with such a strong brand as Altigreen. We are convinced that the future of mobility is electric, and we want to support this cause. We are happy to display and sell Altigreen's world-class products under one roof with Magnum Ventures, Altigreen's first retail dealership in Bengaluru." Dr MP Shyam has been an automobile dealer for over two decades, working with over 15 automobile brands in the passenger, light commercial vehicle, and commercial vehicle markets. Dr Shyam's dealerships, which began in 1996, employ around 5,500 people over 140 locations throughout Karnataka. Contributed to the brands depicted obtaining a large market share. Dr MP Shyam is the Secretary of the Karnataka Auto Dealer Association and a member of the Ford World Global Dealer Council.

The Bengaluru-based firm is constantly expanding its capabilities through innovation and has aggressive development ambitions to broaden its pan-India reach and meet increased demand. Altigreen's product portfolio is built on four solid pillars: the longest range, the largest volumetric capacity, the highest ground clearance, and the most torque. The company's commercial electric 3W product neEV recently completed a 150+ km intercity journey between two prominent Karnataka locations, namely Mysore Palace and Bangalore Palace, on a single charge in around six hours. Furthermore, the company recently announced a partnership to launch the fastest charging three-wheeler, as well as over 100 chargers in Bengaluru.

Altigreen was established in 2013. Altigreen creates electric vehicles for the last-mile transportation market by designing, engineering, and manufacturing them. Altigreen's Made in India / Made for India products are tailored to the Indian climate, road conditions, and driving habits. Altigreen's technology yields 3W Electric Vehicles that outperform Internal Combustion Engine (ICE) vehicles in terms of performance. The company's patent portfolio spans over 60 countries, with 26 patents awarded, including six in the United States, and is headquartered in Bangalore with regional footprints around India. Altigreen has gained global recognition from organizations such as WorldWide Fund for Nature, Niti Aayog, ARAI, Economic Times, Elecrama, IoTNext, IDTechEx, and others. Sixth Sense, Xponentia, Reliance New Energy, Accurant and Momentum have invested Rs 300 Cr in Altigreen.