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India’s leading EV maker Altigreen launches first retail dealership in India in Bengaluru in the presence of Karnataka Minister Dr CN Ashwath Narayan – EQ Mag Pro

India’s leading EV maker Altigreen launches first retail dealership in India in Bengaluru in the presence of Karnataka Minister Dr CN Ashwath Narayan – EQ Mag Pro


Bengaluru: Dr CN Ashwath Narayan, Hon’ble Minister for Higher Education, IT-BT, Science & Technology, Skill Development, Govt of Karnataka today inaugurated India’s leading EV maker Altigreen’s first retail dealership in Bengaluru.

During the ceremony, the minister lauded the company’ efforts in leading India’s Electric Vehicle (EV) transformation with its advanced commercial EVs, while congratulating Magnum Ventures owner, Dr MP Shyam for setting up the dealership.

With the launch of this retail dealership, Altigreen is focussing on providing its consumers an enhanced and never-seen-before experience with world-class and modern infrastructure. Every element of the dealership has been designed to lend a welcoming feel especially to the autorickshaw drivers walking in out of curiosity. Altigreen has left no stone unturned to ensure the dealership reflects the company’s ethos of respect, empathy, and gaining the trust of consumers through transparent dialogue.

Speaking on the occasion, Dr CN Ashwath Narayan said, “The concern for the environment has led people to increase their interest in electric vehicles. Not only this, but the cost of fuel can also decrease substantially as all it needs are few units of electricity. As per reports I was going through recently, the worth of the electric vehicles market would be INR 475 Billion by 2025. I congratulate Altigreen for opening its first dealership in the city. This dealership will make EVs more accessible to the people of Bengaluru and tempt them to transition from fossil fuels to Electric.”

The inauguration of the dealership began with a lamp lighting ceremony where Dr Amitabh Saran, Founder & CEO, Altigreen addressed those present. Dr. Saran talked about Altigreen’s expansion plans and future roadmap. He said, “In the B2B segment, the company is well-positioned to cater to the needs of large institutional customers and intends to take leadership position. Altigreen further believes it is important to cater to the Market Load Operators (also referred to as the B2C segment) who contribute upto 80% of the overall market. I want to thank the honourable Minister Dr CN Ashwath Narayan for his presence and encouragement. The first retail dealership in Bengaluru is the start of our journey in establishing a national footprint. Innovation and R&D form the nucleus of our growth. Going forward, we will continue to deliver the most advanced EVs best-suited for Indian cargo and passenger mobility needs. Dealer and Channel partners will be the catalyst for market expansion and enable our fast growth journey. We intend to expand to the top 40 cities in the next 6 months.”

Also speaking on the occasion, Dr MP Shyam, Owner, Magnum Ventures, said, “It gives us immense pleasure to partner with a strong brand like Altigreen. We firmly believe the future of mobility is electric and we wish to champion this cause. With Magnum Ventures – Altigreen’s first retail dealership in Bengaluru, we are proud to display and sell Altigreen’s world-class products under one roof.” Dr MP Shyam has been an automobile dealer for over two decades and has worked with over 15 automobile brands in passenger, LCV and commercial vehicle segments. Starting in 1996, Dr Shyam’s dealerships employ over 5,500 employees with 140 plus outlets in Karnataka. Been instrumental in having a strong market share for the brands represented. In addition to being the Secretary of Karnataka Auto Dealer Association, Dr MP Shyam is also on the board of Ford World Global Dealer Council.

The Bengaluru-based company is constantly ramping up its capabilities through innovation and has aggressive expansion plans to widen its pan-India presence and cater to the rising demand. Altigreen’s product offering is standing on four strong pillars: longest range, largest volumetric capacity, highest ground clearance, and greatest torque. The company’s commercial electric 3W offering neEV recently achieved the feat of completing 150+ kms intercity drive between two iconic places of Karnataka, i.e. Mysore Palace and Bangalore Palace, on a single charge in about six hours. In addition, the company recently announced a partnership to launch the fastest charged 3 wheeler while offering over 100 chargers in Bengaluru itself.

About Altigreen:

Founded in 2013, Altigreen (https://altigreen.com/) designs, engineers and produces Electric Vehicles for the last mile transportation segment. Altigreen’s Made in India / Made for India products are specifically designed for Indian environment, roads conditions and driving behaviors. Altigreen’s technology results in 3W Electric Vehicles that compete in performance with Internal Combustion Engine (ICE) vehicles. Headquartered with a factory in Bangalore, and with regional footprints across India, the company’s patent portfolio spans over 60 countries with 26 patents granted, including 6 in the US. Global awards received by Altigreen include those from WorldWide Fund for Nature, Niti Aayog, ARAI, Economic Times, Elecrama, IoTNext, IDTechEx and more. Altigreen recently raised a Rs 300 Cr investment from Sixth Sense, Xponentia, Reliance New Energy, Accurant and Momentum.

Anand Gupta Editor - EQ Int'l Media Network