Atul Greentech
Atul Greentech Private Limited is the EV subsidiary of Atul Auto Limited, manufacturing electric three-wheelers for passenger and cargo last-mile use. It serves fleet operators and individual drivers across India and four export markets through a dealer network and proprietary AIS telematics.
- Company typePrivate
- Founded2020
- HeadquartersAhmedabad, India
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Atul Greentech does
Atul Greentech Private Limited (AGPL) is a Gujarat-incorporated, wholly-owned electric vehicle subsidiary of Atul Auto Limited, a publicly listed Indian three-wheeler manufacturer with a 30-year track record. Incorporated in 2020 and headquartered on the Rajkot-Ahmedabad Highway with manufacturing operations through the parent's Shapar (Rajkot) facility, AGPL designs and distributes a portfolio of six electric three-wheelers — Atul RIK EV, Atul RIK Twin, Atul RIK Swap (passenger); Atul Energie, Atul Energie2, Atul Energie Swap (cargo) — all built on a 48V platform with AIS 156-compliant lithium-ion NMC battery packs featuring active intelligent cooling, IP67-rated components, and AC synchronous belt-driven motors (9.92 kW peak). The portfolio is unified by the proprietary Atul Intelligent System (AIS) telematics platform, which integrates the Battery Management System, Vehicle Control Unit, real-time monitoring, OTA updates, and a fleet management mobile application across Android and iOS.
Revenue is generated primarily through hardware sales of electric three-wheelers (passenger and cargo variants) and a secondary stream from authorised after-sales service, maintenance, and spare-parts supply. Pricing is positioned via a usage-based running cost of Rs. 0.50/km under ARAI certification conditions rather than publicly disclosed vehicle purchase prices, with battery-swap models offering reduced upfront cost and 5-minute swap turnaround. The go-to-market combines a multi-state authorised dealer network (18+ Indian states split across sales and service dealers) with international export channels into the Philippines, Italy, Peru, and South Africa, supported by a direct website inquiry funnel and WhatsApp-based customer engagement.
Customers fall into three primary segments: passenger transport and shared-mobility operators (individual drivers, small fleets), cargo and last-mile logistics providers (e-commerce, municipal, small business), and organised B2B fleet operators. The company has no disclosed external institutional investment, with strategic backing anchored entirely by parent Atul Auto Limited and a high-profile 2026 co-development partnership with global Tier-1 supplier Valeo for two- and three-wheeler EV components in India.
Atul Greentech firmographics
Firmographics- Name
- Atul Greentech
- Legal name
- Atul Greentech Private Limited
- Website
- https://atulgreentech.co.in
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Atul Greentech Private Limited is the EV subsidiary of Atul Auto Limited, manufacturing electric three-wheelers for passenger and cargo last-mile use. It serves fleet operators and individual drivers across India and four export markets through a dealer network and proprietary AIS telematics.
- Ownership category
- akta.pro rank
Atul Greentech industry classification
Industry- Product category
- Electric Three-Wheeler Vehicles
- NAICS
- Motor Vehicle Electrical and Electronic Equipment Manufacturing (33632), Battery Manufacturing (33591)
- SIC
- Electronic & Other Electrical Equipment (No Computer Equip) (3600)
- akta.pro primary industry
- Charging Systems & Swappable Battery Infrastructure Manufacturing (IMACAOAF)
- akta.pro secondary industries
- Battery Pack & Module Manufacturing (EV) (IMACACAA), E-Mobility Batteries & Swappable Packs (Consumer) (CRACASAI)
Keywords
Where Atul Greentech is headquartered
LocationHeadquarters
- HQ city
- Ahmedabad
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Atul Greentech business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure
Revenue model
- Electric Three-Wheeler Sales: Primary revenue from the sale of electric three-wheelers including passenger variants (Atul RIK EV, Atul RIK Twin, Atul Energie, Atul Energie2) and cargo/load carrier variants (Atul RIK Swap, Atul Energie Swap). Sales are made through dealers and directly via export channels. Models include both standard and battery-swap configurations.
- After-Sales Service and Maintenance: Revenue generated through authorised service centres providing repair, maintenance, spare parts supply, and customer support. The company offers doorstep maintenance and preventive maintenance services through its AIS platform.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Running cost of Rs. 0.50/km |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Atul Greentech product offering
Product offeringCore offering
Atul Greentech manufactures and sells L5-category electric three-wheelers for passenger and cargo applications, with a portfolio of six vehicle models spanning fixed-battery and swappable-battery configurations. All vehicles share an AIS 156-compliant lithium-ion battery architecture with active thermal management, an AC synchronous belt-driven motor, IP67-rated components, and the proprietary Atul Intelligent System (AIS) telematics platform. Sales and after-sales service are delivered through an authorised Indian dealer network and international export distributors across the Philippines, Italy, Peru, and South Africa.
Product overview
Atul Greentech offers a portfolio of electric three-wheeler vehicles engineered in Europe and built in India, comprising six distinct models: Atul RIK Swap, Atul Energie Swap (battery-swap variants with 5-minute swap times), Atul RIK EV and ATUL RIK Twin (passenger variants with extended ranges up to 207 km), and Atul Energie and Atul Energie2 (cargo variants with 500 kg payload capacity). All vehicles are equipped with AIS 156-compliant lithium-ion NMC batteries, IP67-rated components, and 48V operating systems. The product lineup is unified by the Atul Intelligent System (AIS), an in-house telematics platform that provides real-time monitoring, fleet management, and preventive maintenance across all vehicle models, supported by a mobile app for Android and iOS.
Differentiator
Problem solved
Functional benefit
Products and services
- Atul RIK Swap Electric three-wheeler cargo vehicle with swappable battery technology offering 79 km certified range per charge and a 5.97 kWh battery pack with 5-minute swap time. Features IP67-rated motor and connectors, a reinforced sheet metal cabin, and is classified as an L5M vehicle type for commercial cargo operators.
- Atul Energie Swap Electric three-wheeler passenger/cargo vehicle with swappable battery technology offering 74 km certified range per charge and 5.97 kWh total capacity with 5-minute swap time. Features IP67-rated motor and connectors, wider driver and passenger cabins, and is classified as an L5N vehicle type.
- Atul RIK EV Electric three-wheeler passenger vehicle with fixed battery offering 110 km certified range per charge and a 6.6 kWh battery pack. Features 45 km/h maximum speed, 19% gradeability, and is certified for 1 driver plus 3 passengers seating capacity.
- ATUL RIK Twin Extended-range electric three-wheeler passenger vehicle offering 207 km certified range per charge with dual battery configuration. Features a wider driver cabin, 21.26% gradeability, 2.65m turning radius, and certified seating for driver plus 3 passengers.
- Atul Energie2 Electric three-wheeler cargo vehicle with extended range offering 195 km certified range per charge and a 13.2 kWh battery pack. Features a double battery pack configuration, driver plus cargo seating, and 13.34% gradeability.
- Atul Energie Electric three-wheeler cargo vehicle offering 107 km certified range per charge with a 6.6 kWh battery pack option. Features an IP67-rated battery pack with active intelligent cooling, 9.9 kW peak AC synchronous motor, and 500 kg payload capacity.
Quantifiable outcome
- Running cost of Rs. 0.50/km in normal certification conditions
- +4 more outcomes
Companies that use Atul Greentech
Customer profileSegments3 records
Ideal customer profiles3 records
Atul Greentech technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature7 records
Atul Greentech partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- ValeocoreValeo is expanding into the two-wheeler and three-wheeler EV segments in India through a partnership with Atul Greentech, as part of Valeo's 'Elevate 2028' strategy. This is a significant strategic relationship as Valeo invests over ₹2,150 crore in India to develop EV components and systems for Indian OEMs.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
Atul Greentech competitors and assessment
Company assessmentDirect peers
- Mahindra Electric (Mahindra Last Mile Mobility): Mahindra's electric mobility arm producing the Treo (passenger) and Zor Grand / e-Alfa Mini (cargo) electric three-wheelers, directly competing with Atul Greentech across the L5M/L5N segment in India.
- Altigreen Propulsion Labs: Bengaluru-based EV startup building the neEV electric three-wheeler for last-mile cargo and passenger duty, a direct competitor with similar battery-swap and connected-vehicle strategy to Atul Greentech.
- Bajaj Auto: India's largest three-wheeler manufacturer with the Bajaj RE E-Tec 9.0 electric autorickshaw, dominating the passenger 3W segment and competing with Atul Greentech's RIK EV / RIK Twin lineup.
- Kinetic Green Energy & Power Solutions: Indian electric vehicle company producing the Kinetic Safar electric three-wheeler (passenger and cargo variants), directly competing with Atul Greentech across L5M/L5N categories.
- Euler Motors: India-based EV manufacturer focused on electric three-wheeler cargo vehicles (HiLoad EV), competing head-to-head with Atul Greentech's RIK Swap and Energie cargo variants in the last-mile delivery segment.
- Greaves Cotton (Ampere): Diversified Indian conglomerate with the Ampere EV subsidiary producing electric two- and three-wheelers targeting last-mile mobility, overlapping with Atul Greentech's passenger and cargo segment focus.
- Piaggio Vehicles India: Italian-Indian manufacturer of three-wheelers including the Ape Electrik EV and Ape City, directly competing with Atul Greentech across L5-category passenger and cargo vehicles.
Broad incumbents
- TVS Motor Company: Large Indian two- and three-wheeler manufacturer with TVS King EV and broader EV roadmap, well-capitalised incumbent competing broadly in the commercial vehicle space that overlaps with Atul Greentech's last-mile mobility focus.
- Ola Electric: India's largest electric two-wheeler manufacturer by volume with a stated expansion roadmap into broader EV segments; a broader EV mobility incumbent whose scale, capital, and brand dwarf Atul Greentech in the Indian EV ecosystem.
- Hero Electric: Major Indian electric two-wheeler manufacturer (Optima, Nyx, Photon) targeting similar urban last-mile mobility customers, with a broader EV portfolio and significantly larger brand and dealer footprint than Atul Greentech.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Atul Greentech social profiles
Digital presenceAtul Greentech compliance and trust
Trust signalCompliance1 record
Atul Greentech financial estimates
Financial estimateRevenue estimate
Valuation estimate
Atul Greentech leadership team
Management profileNumber of profiles
Profiles4 records
Atul Greentech funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Atul Greentech 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 Atul Greentech
What does Atul Greentech do?
Atul Greentech manufactures and sells L5-category electric three-wheelers for passenger and cargo applications, with a portfolio of six vehicle models spanning fixed-battery and swappable-battery configurations. All vehicles share an AIS 156-compliant lithium-ion battery architecture with active thermal management, an AC synchronous belt-driven motor, IP67-rated components, and the proprietary Atul Intelligent System (AIS) telematics platform. Sales and after-sales service are delivered through an authorised Indian dealer network and international export distributors across the Philippines, Italy, Peru, and South Africa.
Is Atul Greentech a public or private company?
Atul Greentech is a private company. It is classified as corporate owned and is currently operating.
When was Atul Greentech founded?
Atul Greentech was founded in 2020. It employs 11 to 50 people.
Where is Atul Greentech based?
Atul Greentech is headquartered in Ahmedabad, India, in the Asia region.
How does Atul Greentech make money?
Two revenue lines are on record. Electric Three-Wheeler Sales are the primary driver. The others are after-Sales Service and Maintenance.
Who are Atul Greentech's main competitors?
Direct peers on record are Mahindra Electric (Mahindra Last Mile Mobility), Altigreen Propulsion Labs, Bajaj Auto, Kinetic Green Energy & Power Solutions, Euler Motors, Greaves Cotton (Ampere) and Piaggio Vehicles India. Broad incumbents are TVS Motor Company, Ola Electric and Hero Electric.
Does Atul Greentech have an API?
No public API is recorded for Atul Greentech.
What industry is Atul Greentech in?
Atul Greentech's product category is Electric Three-Wheeler Vehicles. Its primary akta.pro industry code is IMACAOAF, Charging Systems & Swappable Battery Infrastructure Manufacturing, with a secondary code of IMACACAA, Battery Pack & Module Manufacturing (EV). Its NAICS code is 33632 and its SIC code is 3600.