After Deeptech, Reliance Industries bets on EV ecosystem; to invest INR 50 Cr In Altigreen
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Reliance Industries’s energy arm Reliance New Energy Limited (RNEL) has bet on the EV ecosystem through Altigreen. It has entered into an agreement to invest INR 50.16 Cr in Altigreen Propulsion Labs (Altigreen), a regulatory filing accessed by Inc42 stated. RNEL will buy 34,000 compulsorily convertible preference shares (CCPS) in the Bengaluru-based startup. The transaction is proposed to be completed before March 2022.