Altigreen's CEO discusses creating affordable and sustainable electric vehicles in India.
CEO Talk is a fascinating series hosted by Anuj Singhal, Founder & CEO of CXO TV a flagship brand of Techplus Media Group and in this episode, he interviews Amitabh Saran, CEO of APL, who has a PhD in computer science and has worked for several organizations, including NTCS, Phillips, NASA, and Hewlett Packard, and has also had two startups in the software industry. Amitabh's company was acquired by yatra.com in 2011, which led him to reflect on his accomplishments and passions, including his interest in automobiles and the environment. With the help of his co-founders, he started looking into creating hybrid vehicles to solve the problem of high deaths in India due to poor air quality, with 25% of those deaths attributed to road transport. APL has since become an OEM and is manufacturing its own vehicles under the Altigreen brand, using their expertise to create full electric drivetrains for two-wheelers, three-wheelers, and four-wheelers. APL is committed to creating long-lasting, reliable vehicles that can withstand the challenging conditions of Indian roads. They have built a technology stack that outperforms fossil fuels in every aspect, including comfort, drivability, speed, and performance. APL has been granted 28 global patents for their unique technologies. In a price-sensitive country like India, electric vehicle adoption is not only driven by environmental concerns but also by affordability and sustainability. A green electric three-wheeler from APL costs only about 92 paisa per kilometer compared to 4 rupees per kilometer for a diesel three-wheeler, resulting in a daily saving of up to 7500 rupees or 30 to 50 percent of monthly earnings.
Amitabh emphasized the need for a bottom-up approach to technology adoption, focusing on the base of the pyramid and demonstrating the benefits to early adopters before moving up to more expensive vehicles. Altigreen plans to launch passenger vehicles, including four-wheelers, in the near future. Saran also discussed the challenges in the EV industry, particularly the standardization of batteries for swapping, and the need for global standards for interoperability.
APL plans to expand their production capacity by creating smaller manufacturing units in different regions of India, as well as expanding their national footprint to over 400 cities. They also plan to work with financiers to make sure that commercial vehicle financing is available for three-wheelers. The company's focus is on the Indian and emerging markets, particularly in South Asia, Africa, and South America, where they plan to expand through partnerships and assembly in different places. Amitabh believes that advanced AI and metal technologies can be used to make important changes in the transportation industry, particularly in the differentiation of vehicles through software. The company has steadily grown from 100 to 950 employees and has seen an increase in sales and revenue.
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