Altigreen ramps up production capacity with new manufacturing facility
Commercial electric vehicle manufacturer Altigreen has opened a new production facility in Malur, Karnatak, in turn ramping up its production capacity. The new facility is spread across three lakh sq ft, and is fully equipped to manufacture 4,500 units 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 comes in the backdrop of ₹300 crore investment earlier this year led by Sixth Sense Ventures, Reliance New Energy, Xponentia Capital, and others. This funding has helped Altigreen to aggressively ramp up its R&D and production capabilities while also developing a robust pan-India distribution network.
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Altigreen is optimistic that through its new facility, the company will be able to encourage local employment and the skill development of workers across India. To procure workforce for the factory, Altigreen has undertaken an extensive hiring exercise to bring on board 70 institutes across the state. “As part of this recruitment drive, we also aimed to empower women in the plant. The company has ensured a mix of men and women employees in various production areas of Neev vehicle which will expand over a period of time," said Amitabh Saran, Founder and CEO, Altigreen.
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At present, the EV maker is working with 167 domestic and international suppliers, and a total workforce of 975 employees, out of which 700 are performing blue collar roles. The company's products have over 93% domestic value add (excluding lithium cells that are not manufactured in India yet) and it plans to continue its commitment to the localisation of its products and capabilities in future vehicle formats that they launch in the coming quarter.
Altigreen's sales and marketing office is located in Pune at present and meanwhile the company is also steadily expanding its footprint and working towards setting up a zonal office in Delhi.