Reliance-Backed Altigreen’s EV Three-Wheeler Dreams Hit A Wall

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Yet another EV startup is close to pulling its shutters down. Bengaluru-based three-wheeler EV manufacturer Altigreen has halted its manufacturing operations and is at risk of shutting down completely if it fails to secure funding. 

Multiple sources familiar with the state of affairs at Altigreen told Inc42, a situation acknowledged by the company’s CEO, Amitabh Saran.

The Reliance-backed startup, which was one of the early moves in the three-wheeler EV manufacturing space, has been hit by a massive fund crunch. With dues mounting, the…



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Reliance-Backed Altigreen’s EV Three-Wheeler Dreams Hit A Wall


Yet another EV startup is close to pulling its shutters down. Bengaluru-based three-wheeler EV manufacturer Altigreen has halted its manufacturing operations and is at risk of shutting down completely if it fails to secure funding. 

Multiple sources familiar with the state of affairs at Altigreen told Inc42, a situation acknowledged by the company’s CEO, Amitabh Saran.

The Reliance-backed startup, which was one of the early moves in the three-wheeler EV manufacturing space, has been hit by a massive fund crunch. With dues mounting, the…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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