Commercial EV manufacturer Altigreen has bagged an order for over 1,500 road-ready EVs to MoEVing in 2022. The business is worth Rs 75 crore and the company is ramping up its manufacturing capabilities to begin deliveries from Q1 FY2022. MoEVing is an electric mobility focused technology platform.
Dr. Amitabh Saran, CEO, Altigreen said, “2021 has been a defining year for the commercial EV segment. The rising awareness, consumer consciousness, and policy support are creating a conducive ecosystem to ramp up efforts for large-scale EV adoption in the country. We want to thank MoEVing for their continued support and trust in us. Our team is constantly working to upgrade our manufacturing capabilities and we are confident of higher volume deliveries from the first quarter of FY2022.” Altigreen is ramping up its capacity from the current 6,000 per annum to 36,000 per annum in the next 12 months, added Dr. Saran.
EV service centres in the offing
MoEVing is building a driver-centric platform that provides full-stack technology solutions including delivery, charging, financing and analytics solutions aimed at making EV adoption seamless. Along with deploying a large number of vehicles nationally, MoEVing and Altigreen will be kicking off a major initiative solving a key issue – EV servicing. Going forward MoEVing charging hubs across the country will be authorised service centre locations for Altigreen vehicles. The pilot for the same will kick off in Delhi and Bangalore charging hubs.
Commenting on the initiative, Vikash Mishra, founder and CEO, MoEVing added, "We are excited to partner with Altigreen to deploy their vehicles and explore the conversation around EV service centres. Our platform’s holistic solutions to accelerate EV adoption, with data being at the centre of our strategy, has us working with leading ecosystem players like Altigreen to ensure that our goal of sustainable mobility and sustainable livelihood for drivers is accomplished."
Debashis Mitra, VP Sales & Mktg, Altigreen said, “Our first 100 deliveries happened in 9 months and the second 100 took place in 3 months. By this time next year, we expect to deliver 100 vehicles every day. NEEV, our flagship product, is making headway in varied applications from last-mile delivery, mid-mile delivery, grocery delivery, e-commerce in medium and big markets. The FAME-II subsidy, and subsidies offered by some state governments, have narrowed down the gap with fossil fuel products leading to a shift towards EVs faster than expected.”
Commenting on Altigreen’s future roadmap, he added, “Altigreen is planning for a deep penetration in the market by moving from B2B to B2C model and reaching out to many Tier-I and Tier-II cities across India. We are seeing a surge in applications coming in from businesses, pan India, wanting to associate with Altigreen as dealer partners, and we will soon start shortlisting and moving ahead in this direction.”
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