NewsVoir
Mumbai (Maharashtra) [India], April 30: Atul Greentech Private Limited, the electric three-wheeler manufacturing subsidiary of Atul Auto Limited which is the listed company, has secured funding of Rs. 32.50 crore ($4.1 million) through various fundraising activities. This investment values the company at Rs. 950 crore ($121.3 million). Investors in this round include parent company Atul Auto Limited, prominent ace investor Vijay Kedia, Singapore-based foreign portfolio investor Nav Capital VCC - Nav Capital Emerging Star Fund and the Mahendra Patel family.
The funds raised will be instrumental in fuelling Atul Greentech's ambitious growth plans, including the expansion of its product portfolio, enhancement of manufacturing capabilities and the development of cutting-edge technologies to revolutionise the electric three-wheeler segment.
Driven by a steadfast commitment to revolutionise mobility solutions, Atul Greentech unveiled its groundbreaking electric three-wheelers, Atul Mobili and Atul Energie, during the Auto Expo 2023 in New Delhi. With a focus on combining cutting-edge technology with unparalleled performance, these vehicles showcase the company's dedication to excellence in design, efficiency and environmental sustainability.
Central to Atul Greentech's innovation is Atul Energie, the industry's first electric cargo three-wheeler boasting a dual battery pack for an unprecedented range of 195 km. Powered by lithium-ion batteries and integrated with motor drives from industry leader Valeo, both Atul Mobili and Atul Energie exemplify the company's commitment to delivering high-performance, sustainable mobility solutions.
With its innovative product lineup and strategic investments, Atul Greentech is poised to redefine the electric three-wheeler landscape, driving the transition towards a greener, more sustainable future. The company's unwavering dedication to technological excellence and environmental stewardship positions it as a trailblazer in the EV industry, setting new benchmarks for innovation and driving positive change on a global scale.
Atul Greentech Private Limited is a trailblazer in the electric vehicle industry, dedicated to crafting cutting-edge solutions that harmonise performance, sustainability and innovation. With a diverse portfolio encompassing passenger and cargo electric three-wheelers, the company stands at the vanguard of the sustainable mobility revolution.
For more information, visit www.atulgreentech.co.in.
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