Delhi-NCR-based Euler Motors, an electric commercial vehicle manufacturer, has raised INR 4.37 billion (USD 47 million) in a Series E funding round. The investment was led by Lightrock, with participation from Hero MotoCorp and Blume Ventures. The company also secured an additional INR 2.5 billion in debt financing from BlackSoil, Trifecta, InnoVen and Alteria Capital.

Founded in 2018, Euler Motors focuses on the last-mile logistics segment in India. The company is the second largest player with 22 percent market share in the four-wheel electric cargo segment. To cater to demand in the country, it is expanding to over 100 touchpoints across the country.

The recent capital will be used to expand manufacturing capacity, scale the national retail and service network, and invest in core operational functions. To date, Euler Motors has raised approximately INR 19 billion (USD 229 million).

Saurav Kumar, Founder and CEO, Euler Motors, said, “This round comes at an important stage in Euler Motors’ journey. We are moving from early scale-up to the next phase of growth, where the focus is on building with greater depth and consistency across products, markets and operations. We see a significant opportunity in commercial EV segments where uptime, reliability and operating economics matter most, and we will continue to invest behind that opportunity with discipline. The combination of fresh equity and debt capital strengthens our ability to expand capacity, deepen our network and build the operating foundation required for long-term growth. We are pleased to welcome Lightrock as a new investor and grateful for the continued support of Hero MotoCorp, Blume Ventures, BlackSoil, InnoVen, Trifecta and Alteria Capital.”

Ademidun (Demi) Edosomwan, Partner and Head of Energy Access, Lightrock, said, “We are proud to partner with Euler Motors and accelerate their mission to transform commercial mobility in India. Euler Motors has built a differentiated platform in electric commercial vehicles with products purpose-built for Indian operating conditions and the demands of last-mile logistics. The company is delivering practical, scalable solutions that can drive the wider transition to clean mobility.”

Harshavardhan Chitale, CEO, Hero MotoCorp, said, “We are excited to support Euler Motors in its latest fundraise, as the company continues to demonstrate strong momentum in building ecological and scalable solutions. Their commitment to innovation, operational excellence and long-term value creation aligns closely with our vision of being sustainable and customer-centric.”

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Hyundai Motor India, one of the leading passenger vehicle manufacturers, has launched an assured buyback scheme for the Hyundai Creta Electric SUV, offering buyers a 60 percent guaranteed residual value for up to three years or 45,000 kilometres. The program aims to address depreciation concerns among buyers transitioning to electric vehicles.

The initiative follows the company's introduction of its Battery-as-a-Service (BaaS) model for the Creta Electric, which carries an entry price of INR 1.09 million with battery rental rates starting at INR 3.9 per kilometre to lower upfront purchase costs.

The Creta Electric features ARAI-certified driving ranges of 510 kilometres for the 51.4 kWh battery option and 420 kilometres for the 42 kWh variant, with DC fast-charging capabilities that enable a 10 to 80 per cent charge in 39 minutes.

Tarun Garg, MD & CEO, Hyundai Motor India, said, “The next phase of electric vehicle adoption in India will be driven equally by advancements in vehicle technology and by greater customer confidence. Hyundai Creta Electric has been engineered to deliver an exceptional ownership experience backed by Hyundai’s global EV expertise and the trust of the iconic Creta brand. Our Assured Buyback Program, offering 60 percent assured buyback value, reflects our confidence in the product’s outstanding quality, reliability and long-term value. Together with our Battery-as-a-Service initiative, expanding charging infrastructure and future EV roadmap, we are building one of India’s most comprehensive EV ecosystems, enabling customers to embrace electric mobility without compromising on convenience, confidence or peace of mind.”

To support its electric fleet, Hyundai provides access to over 30,000 charging points via its digital app. The carmaker currently operates 183 DC fast-charging stations across 105 cities in India, with plans to expand its network to 600 stations by 2030 across highways, cities, and dealership locations.

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Bengaluru-headquartered Indofast Energy, the battery swapping joint venture between Sun Mobility and Indian Oil Corporation, has entered into a partnership with charge point operator Zeon Charging to expand battery swapping infrastructure across retail and transit locations in Southern India.

As per the understanding, Indofast Energy will deploy its Quick Interchange Stations (QIS) across Zeon Charging's network of sites, including shopping centres, metro parking facilities, and commercial hubs in Bengaluru, Hyderabad and Chennai.

The rollout has commenced with the installation of 6 QIS across two locations in Bengaluru, including Orion Mall in Rajajinagar. Plans are underway to expand the Orion Mall setup with 5-6 additional swap stations.

The partnership provides Indofast Energy with access to locations equipped with electrical infrastructure and positioning along urban transit corridors, targeting commercial two-wheeler electric vehicle drivers and delivery fleets. Indofast Energy currently operates a network of over 450 stations in Bengaluru, alongside more than 1,900 swap stations across 24 cities in India.

Subhash Bhat, Interim CEO, Indofast Energy, said, "Our collaboration with Zeon Charging enables us to bring battery swapping to some of the most accessible and high-visibility locations across Southern India. Premium malls, metro parking facilities, and commercial hubs are exactly the kind of high-traffic sites where EV users need seamless energy access. By partnering with an established CPO like Zeon, we are accelerating our network expansion into power-ready, strategically positioned locations. This is a natural extension of our mission to make battery swapping accessible wherever riders need energy, making it the most practical and accessible choice for EV users across India."

Akhil Venkateshwaran, CTO & Director, Zeon Charging, said, "At Zeon Charging, we are building future-ready EV infrastructure that serves the evolving needs of India's electric mobility ecosystem. Partnering with Indofast Energy unlocks a vital piece of this objective catering to both fixed-charging users and the rapidly growing battery swapping segment. This collaboration at strategic venues like Orion Mall in Bangalore proves that integrating swapping stations into premium retail and transit hubs is highly effective in creating a seamless, sustainable, and convenient experience for EV drivers across Southern India. We look forward to scaling this partnership rapidly across our network."

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BYD India, a subsidiary of new energy vehicle (NEV) manufacturer BYD, has unveiled a new festive campaign, titled ‘Celebrate Your Dreams with BYD,’ ahead of the country’s key automobile buying season. The initiative is designed to enhance the appeal of premium electric vehicles by offering a comprehensive package of ownership benefits for eligible models.

Commencing in August 2026, the festive package includes charging coupons on specific variants, a complimentary two-year maintenance plan and extended warranty coverage reaching up to 200,000 kilometres. Additionally, customers can access financing with interest rates beginning at 7.77 percent and receive a special festive gift hamper with their purchase.

With over 17 million new energy vehicles sold globally and a customer base exceeding 15,000 in India, BYD continues to expand its footprint in the premium segment. These limited-time offers, which vary by city and dealership, are intended to support the growing consumer shift towards sustainable mobility by improving overall value, subject to standard terms and conditions.

Rajeev Chauhan, Head of Electric Passenger Vehicle (EPV) Business, BYD India, said, “India’s festive season is an important time for many customers to make mobility choices for their families. At BYD, we remain focused on delivering advanced technology, safety, reliability and a strong ownership experience through our electric vehicle portfolio. Through ‘Celebrate Your Dreams with BYD’, we aim to make the transition to electric mobility more accessible for customers. As families across the country mark new beginnings during the festive season, BYD remains committed to offering advanced technology, safety and ownership confidence through its electric vehicle portfolio while supporting the broader shift towards sustainable mobility.”

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Bengaluru-based electric vehicle maker Ather Energy has reported its consolidated income of INR 12.6 billion for Q1 FY2027, which marks a 87.2 percent YoY increase.

In Q1, the company sold 83,173 electric two-wheelers, up 80.5 percent compared to same period last year. Non-vehicle operations, including software subscriptions, charging infrastructure, spare parts and service offerings, contributed 14 percent to operating revenue, up from 13 percent in Q1 FY26.

The earnings before interest, taxes, depreciation, and amortisation (EBITDA) turned positive at INR 90 million, compared to an EBITDA loss of Rs 1.06 billion in the same period last year. EBITDA margin improved by 1,650 basis points to 0.8 percent. Consolidated net loss narrowed to INR 510 million from INR 1.78 billion in Q1 FY26.

The consolidated results also include performance data for newly incorporated subsidiary Ather Insurance, which recorded a net loss of INR 22 million for the quarter. Adjusted gross margin stood at INR 2.82 billion, up 82.3 percent YoY. Higher input costs were recorded across raw materials including copper, aluminium, lithium and crude-linked supplies, which the company managed through pricing adjustments, product mix changes, and engineering cost reductions.

Ather Energy stated that market demand metrics indicated customer enquiries rising 95 percent YoY to 707,000, while pre-orders increased 158 percent to 150,000 units. Industry registration data from Vahan showed total electric two-wheeler registrations rising 68 percent YoY to approximately 525,000 units during the period, with electric vehicle penetration reaching 10 percent in June 2026.

Tarun Mehta, Co-Founder & CEO, Ather Energy, said, "We continued to see strong demand across our portfolio, as structural tailwinds from both policy support and shifting customer sentiment translated into a massive upsurge for our products, with demand far outstripping supply. This gives us confidence that the market continues to expand. In the coming months, we are particularly excited about our new product on the EL platform, commencing production alongside the scale-up of our new factory at AURIC. Together, they position us well for the next phase of Ather's growth.”

Manufacturing expansion remains on schedule at Factory 3.0 at AURIC in Chhatrapati Sambhaji Nagar. Phase 1, offering an annual capacity of 500,000 units, is scheduled to start production in Q3 FY27. Upon completion of Phase 1 and Phase 2, Ather's total installed manufacturing capacity across its facilities will reach 1.42 million units annually.

The company also plans to reveal its first production model on the EL vehicle architecture on 29 August 2026 during Ather Community Day.

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