eliance New Energy Ltd (RNEL) a wholly-owned subsidiary of Reliance Industries Ltd (RIL) has entered into an agreement with Altigreen Propulsion Labs Private Ltd (Altigreen) for subscription of 34000 Series A Compulsorily Convertible Preference Shares of face value Rs 100 each for an aggregate consideration of Rs 50.16 crore.<\/p>\n\n\n\n
Based out of Bengaluru Altigreen is an electric vehicle technology and solutions company for commercial last mile transportationthrough 2\/3\/4 wheeled vehicles.It has developed an E3Wvehicle and its vehicles are built in-house in Bangalore on a mobility platform that is 100% indigenous.Its current patent portfolio spans 60 countries with 26 global patents, RIL said.Some of Altigreen\u2019s current technologies include electric motors & generator vehicle controls\uff0c motor controls\uff0c EV transmissions\uff0c telematics & 10T and battery management.\u201cThe investment is part of our Company\u2019s strategic intent of collaborating with innovative companies in New Energy and New Mobility ecosystems,\u201d RIL said.Altigreen is a private limited company incorporated in India on February 8\uff0c 2013<\/p>\n","protected":false},"excerpt":{"rendered":"
eliance New Energy Ltd (RNEL) a wholly-owned subsidiary of Reliance Industries Ltd (RIL) has entered into an agreement with Altigreen Propulsion Labs Private Ltd (Altigreen) for subscription of 34000 Series A Compulsorily Convertible Preference Shares of face value Rs 100 each for an aggregate consideration of Rs 50.16 crore. Based out of Bengaluru Altigreen is … Continue reading ** RIL unit picks up stake in EV firm Altigreen<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[4,6,20,11],"tags":[],"class_list":["post-13811","post","type-post","status-publish","format-standard","hentry","category-business-economy","category-green-products","category-records-india-national","category-science-technology"],"_links":{"self":[{"href":"https:\/\/www.globalrecordsindia.com\/index.php?rest_route=\/wp\/v2\/posts\/13811","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.globalrecordsindia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.globalrecordsindia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.globalrecordsindia.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.globalrecordsindia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13811"}],"version-history":[{"count":3,"href":"https:\/\/www.globalrecordsindia.com\/index.php?rest_route=\/wp\/v2\/posts\/13811\/revisions"}],"predecessor-version":[{"id":13814,"href":"https:\/\/www.globalrecordsindia.com\/index.php?rest_route=\/wp\/v2\/posts\/13811\/revisions\/13814"}],"wp:attachment":[{"href":"https:\/\/www.globalrecordsindia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalrecordsindia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalrecordsindia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}