Altigreen Propulsion Labs
Altigreen Propulsion Labs manufactures electric three-wheeler cargo and passenger vehicles in India for last-mile logistics operators, fleet owners, and individual drivers, distributing through 30+ dealerships across 36+ cities.
- Company typePrivate
- Founded2013
- HeadquartersBengaluru, India
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What Altigreen Propulsion Labs does
Altigreen Propulsion Labs is a Bengaluru-based private limited company that designs, engineers, and manufactures electric three-wheeler vehicles (L5 category) for India's last-mile transportation segment. Its product portfolio comprises five neEV-branded variants: the neEV Low Deck and neEV High Deck cargo models with a class-leading 177 cu ft container offering 20% more space than competitors, the neEV Bhai customizable flatbed, the neEV TEZ rapid-charging model capable of 0-100% charge in 15 minutes via partnership with Exponent Energy, and the neEV Rahi 5-seater passenger vehicle. The underlying technology stack centers on a 3-phase 8.25 kW motor producing 810 Nm wheel torque, an IP67-rated lithium-ion battery with 11 kWh capacity and ARAI-certified 151 km range (120+ km real-world under load), 220 mm ground clearance, and 550 kg payload capability. The company holds 29 technology patents developed over eight years of R&D and competes primarily on total cost of ownership rather than upfront price.
Altigreen Propulsion Labs firmographics
Firmographics- Name
- Altigreen Propulsion Labs
- Legal name
- Altigreen Propulsion Labs Private Limited
- Website
- https://altigreen.com
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Altigreen Propulsion Labs manufactures electric three-wheeler cargo and passenger vehicles in India for last-mile logistics operators, fleet owners, and individual drivers, distributing through 30+ dealerships across 36+ cities.
- Ownership category
- akta.pro rank
Altigreen Propulsion Labs industry classification
Industry- Product category
- Electric Three-Wheeler Vehicles
- NAICS
- Motor Vehicle Electrical and Electronic Equipment Manufacturing (33632), Motor Vehicle Transmission and Power Train Parts Manufacturing (33635)
- SIC
- Industrial Trucks, Tractors, Trailors & Stackers (3537)
- akta.pro primary industry
- Truck & Commercial Vehicle Electrification Manufacturing (eAxles/Battery Packs/Fuel Cells) (IMACABAK)
Keywords
Where Altigreen Propulsion Labs is headquartered
LocationHeadquarters
- HQ city
- Bengaluru
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Altigreen Propulsion Labs business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Electric Three-Wheeler Vehicle Sales: Altigreen generates revenue primarily from the sale of electric three-wheeler cargo and passenger vehicles. The company manufactures and sells multiple variants including neEV Low Deck, neEV High Deck, neEV Bhai (flatbed), neEV TEZ (fast charging), and neEV Rahi (passenger).
Go-to-market motion2 records
Distribution channels3 records
Marketing channels7 records
Altigreen Propulsion Labs product offering
Product offeringCore offering
Altigreen Propulsion Labs manufactures electric three-wheeler cargo and passenger vehicles (the neEV product line) in India for last-mile transportation. The vehicles feature proprietary lithium-ion battery technology, IP67-rated components, and are specifically engineered for Indian road conditions, climate, and driving behavior. Key variants include neEV Low Deck, High Deck, Bhai, TEZ (fast-charging), and Rahi (passenger).
Product overview
Altigreen Propulsion Labs is a Bengaluru-based manufacturer of electric three-wheeler vehicles for India's last-mile transportation segment. The company researches, designs, engineers, and produces made-in-India EVs specifically designed for Indian environments, road conditions, and driving behavior. The product portfolio consists of five distinct models: neEV Low Deck and neEV High Deck (cargo variants with different container configurations), neEV Bhai (flatbed cargo variant with customization options), neEV TEZ (fast-charging cargo model with 15-minute rapid charging), and neEV Rahi (5-seater passenger vehicle). The lineup competes with conventional fossil-fuel vehicles in price and performance while offering significantly lower operating costs of ₹0.92/km compared to ₹4.40/km for diesel and ₹3.20/km for CNG vehicles.
Differentiator
Problem solved
Functional benefit
Brands
- neEV: Product line of electric three-wheeler vehicles including Low Deck, High Deck, TEZ, Bhai, and Rahi variants for cargo and passenger transport.
Products and services
- neEV Low Deck
Quantifiable outcome
- Operating cost reduction of 70-80% compared to ICE vehicles (₹0.92/km vs ₹4-5/km)
- +4 more outcomes
Companies that use Altigreen Propulsion Labs
Customer profileNamed customers9 records
Segments4 records
Ideal customer profiles3 records
Altigreen Propulsion Labs technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Altigreen Propulsion Labs partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Exponent EnergycorePartnership to provide rapid charging solutions for Altigreen's neEV TEZ model. Exponent Energy provides a specialized battery pack and charging station that together enable 0-100% charging in just 15 minutes, addressing range anxiety for commercial fleet operators.
Scale indicators8 records
Recent moves8 records
Expansion highlights6 records
Altigreen Propulsion Labs competitors and assessment
Company assessmentDirect peers
- Euler Motors: India-based EV three-wheeler manufacturer focused on commercial/cargo segments with similar TCO-driven value proposition and B2B fleet customer base. Closely comparable in product category and target buyer.
- Piaggio Vehicles: Piaggio's Ape E-City and Ape E-Xtra are electric three-wheeler cargo/passenger models sold through Piaggio's deep Indian dealer network. They compete head-to-head with Altigreen's neEV range on price, payload, and range.
- Omega Seiki Mobility: Indian EV maker with Rage+ and other electric three-wheeler cargo models targeting last-mile logistics, fleet operators, and small businesses — overlapping directly with Altigreen's neEV cargo lineup.
- Mahindra Electric: Mahindra's EV subsidiary manufactures the Treo range of electric three-wheelers (cargo and passenger) targeting exactly the same Indian last-mile and intra-city commercial segment as Altigreen, with comparable dealer reach and a much larger parent balance sheet.
- Atul Auto: Established Indian three-wheeler OEM with an emerging electric portfolio (Atul Elite, Atul Gem) for cargo and passenger segments. A traditional incumbent transitioning into EV three-wheelers.
Others
- Exponent Energy: Rapid-charging technology partner to Altigreen for the neEV TEZ program. Not a direct competitor but a critical ecosystem enabler whose network rollout directly determines Altigreen's fast-charging proposition.
Emerging players
- Hero Electric: Focused EV two- and three-wheeler OEM with Optima and Nyx series targeting urban commercial and personal use cases. Smaller-scale player with overlapping dealer footprint in Tier 2/3 markets.
Broad incumbents
- Bajaj Auto: Dominant Indian three-wheeler OEM (RE, Maxima, Qute) now expanding into EVs. Significant incumbent with scale, dealer network, and brand that broadly competes with Altigreen across the three-wheeler category.
- TVS Motor Company: Large Indian two- and three-wheeler manufacturer with King EV and other electric three-wheeler models targeting commercial and passenger transport — broader portfolio competitor with substantially larger scale.
- Tata Motors (Electric): India's largest commercial vehicle OEM with growing electric CV and three-wheeler presence (Tata Ace EV, Xpres-T). While broader than three-wheelers, Tata's commercial fleet relationships and financing arm pose competitive pressure across customer segments Altigreen serves.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Altigreen Propulsion Labs social profiles
Digital presenceAltigreen Propulsion Labs financial estimates
Financial estimateRevenue estimate
Valuation estimate
Altigreen Propulsion Labs leadership team
Management profileNumber of profiles
Profiles4 records
Altigreen Propulsion Labs funding detail
Funding detailFunding overview
Funding rounds4 records
Investors10 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Altigreen Propulsion Labs M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Altigreen Propulsion Labs
What does Altigreen Propulsion Labs do?
Altigreen Propulsion Labs manufactures electric three-wheeler cargo and passenger vehicles (the neEV product line) in India for last-mile transportation. The vehicles feature proprietary lithium-ion battery technology, IP67-rated components, and are specifically engineered for Indian road conditions, climate, and driving behavior. Key variants include neEV Low Deck, High Deck, Bhai, TEZ (fast-charging), and Rahi (passenger).
Is Altigreen Propulsion Labs a public or private company?
Altigreen Propulsion Labs is a private company. It is classified as venture growth investor backed and is currently operating.
When was Altigreen Propulsion Labs founded?
Altigreen Propulsion Labs was founded in 2013. It employs 101 to 250 people.
Where is Altigreen Propulsion Labs based?
Altigreen Propulsion Labs is headquartered in Bengaluru, India, in the Asia region.
How does Altigreen Propulsion Labs make money?
One revenue line is on record: electric Three-Wheeler Vehicle Sales.
Who are Altigreen Propulsion Labs's main competitors?
Direct peers on record are Euler Motors, Piaggio Vehicles, Omega Seiki Mobility, Mahindra Electric and Atul Auto. Exponent Energy is listed as an others. Hero Electric is listed as an emerging player. Broad incumbents are Bajaj Auto, TVS Motor Company and Tata Motors (Electric).
Does Altigreen Propulsion Labs have an API?
No public API is recorded for Altigreen Propulsion Labs.
What industry is Altigreen Propulsion Labs in?
Altigreen Propulsion Labs's product category is Electric Three-Wheeler Vehicles. Its primary akta.pro industry code is IMACABAK, Truck & Commercial Vehicle Electrification Manufacturing (eAxles/Battery Packs/Fuel Cells). Its NAICS code is 33632 and its SIC code is 3537.