Folks Motor, an electric retrofitment start-up, has announced an ambitious INR 2 billion turnover plan by FY2026-27.

The Delhi-based start-up is expanding its footprint in B2B EV systems, components space and has also ventured in asset management, financial services and industrial infrastructure play. Folks Motor provides a new lease of life to diesel and petrol vehicles by converting them to electric vehicles. It aggregates demand and collaborates with leading suppliers, to offer a comprehensive range of powertrain platforms and power electronics, ensuring a seamless automotive experience.

Nikhil Anand Khurana, MD and CEO, Folks Motor, said, “At Folks Motor, our mission is not just about providing retrofitting solutions but about advancing a holistic ecosystem for sustainable transportation. By enabling the transition of older, fuel-driven vehicles to electric ones, we directly contribute to cleaner air and a more sustainable future. Our goal extends beyond product innovation – we aim to build an integrated supply chain, create partnerships with key industry players, and introduce forward-thinking financial services through Folks Finance. The financial accessibility of EVs and retrofitment solutions will help accelerate adoption, especially among retail customers, SMEs, and component manufacturers.

To support its customers and drive growth Folks Motor is expanding into financial services with the launch of Folks Finance. It will focus on retail financing for EVs and retrofitment customers, alongside corporate lending offerings such as project financing, bill discounting, working capital loans and financial support for EV dealers & component manufacturers.

The company estimates that the global electric vehicle component market was valued at USD 148.32 billion in 2022 and is expected to grow to USD 1001.95 billion by 2032, with a CAGR of 21.05 percent.

Folks Motor has earmarked funds for land acquisition, CAPEX investment, warehousing and an industrial park, with a total project investment amounting IRN 5 billion. It is also planning to raise USD 100 million in ESG capital to accelerate growth.

Comments (0)

ADD COMMENT

Link Copied!

Ampere, the two-wheeler brand from Greaves Electric Mobility, has rolled out a 5-year / 75,000km battery warranty on its flagship electric scooter – the Ampere Nexus.

The Ampere Nexus utilises a Lithium Ferro Phosphate (LFP) battery, which is claimed to have around 110km of real-world range, top speed of 93 kmph.

It features best-in-class suspension, aerodynamics and an industry-fastest charging time of just 3 hours 22 minutes. The Ampere Nexus had undertaken a endurance run of plying over 10,000km from Kashmir to Kanyakumari ride, setting four national records.

The e-scooter is priced at INR 114,900 (ex-showroom) and also comes with lowest down payment and interest rate starting 6.99 percent.

Comments (0)

ADD COMMENT

Link Copied!

Chennai-headquartered two-wheeler and three-wheeler major TVS Motor Company has introduced a new variant of its flagship electric scooter the TVS iQube with 3.1 kWh battery that comes with an IDC range of 123 km, hill hold and dual tone design with prices starting INR 103,727 (Delhi). 

Till date, the TVS iQube has gone home to over 600,000 customers and is available across 1,900 touchpoints. With the latest addition, the TVS iQube family now consists of six variants.

The new variant also gets Hill Hold assist for added safety and a refreshed UI/UX interface for a more intuitive riding experience and four attractive colours: Pearl White, Titanium Grey, and two dual-tone options—Starlight Blue with Beige and Copper Bronze with Beige.

Comments (0)

ADD COMMENT

Link Copied!

Vida, the electric vehicle business of Hero MotoCorp, the world’s largest two-wheeler manufacturer, has launched the VX2 electric scooter at prices starting INR 59,490 with Battery-as-a-Service (BaaS) model and INR 99,490 (ex-showroom) for outright purchase for the VX2 Go variant.

The higher VX2 Plus variant gets a 3.4 kWh battery and is priced at INR 109,990 (ex-showroom) for outright purchase and INR 64,990 for BaaS model. While the VX2 Go variant comes with a claimed range of 92km with 2.2 kWh battery. Under BaaS, the user will pay approximately INR 0.96 per kilometre of usage. Customers will also get access to over 3,600 charging points and more than 500 sales and service centres.

To provide peace of mind to customers, Vida is offering complimentary battery replacement if the performance falls below 70 percent.

In terms of tech, the VX2 gets seamless smartphone integration for real-time ride statistics, telemetry, and Firmware Over-The-Air (FOTA) updates. The VX2 Plus gets 4.3-inch TFT screen, while VX2 Go gets 4.3-inch LCD both offering turn-by-turn navigation.

The company claims that the e-scooters can be charged to 80 percent in just 60 minutes.

The e-scooters sport 12-inch wheels and 33.2-litre boot space (with removable battery) for VX2 Go variant.

With this, the company aims to make the e-scooters one of the most affordable electric vehicle offerings in the country.

Dr Pawan Munjal, Executive Chairman, Hero MotoCorp

INR 99,490 (ex-showroom price) and 59,490 with BaaS and INR 0.96 per km

Vida VX2 E-Scooter Launched At INR 99,490 And INR 59,490 With BaaS

Dr Pawan Munjal, Executive Chairman, Hero MotoCorp, said, “Vida was born from a vision far greater than building electric vehicles—we set out to spark a movement. A movement that puts people and planet first, that redefines mobility as a force for good, and that gives every individual—not just the few—the opportunity to thrive, grow, and live better. Vida means ‘life’—and that is exactly what we aim to bring: cleaner air, better choices, and smarter journeys. A name that reflects our purpose—to drive meaningful progress and create a positive impact, not just in cities, but across every corner of Bharat and the world. On the birth anniversary of our Founder Chairman, Dr. Brijmohan Lall Munjal, we renew our commitment to build a future that is smart, connected, and conscious. With the Vida VX2 Evooter, we are not simply launching a product—we are delivering an ecosystem that empowers change. This is our promise: to make sustainable mobility widely accessible, to make our products highly affordable, and to always lead with trust, responsibility, and purpose. Backed by Hero MotoCorp’s legacy, Vida will power a better tomorrow – for everyone.”

Comments (0)

ADD COMMENT

Link Copied!

Bengaluru-based electric vehicle maker Ather Energy has expanded its Rizta family e-scooter line-up with the introduction of the Rizta S, featuring a 3.7kWh battery pack. The new variant is priced at INR 137,047 (ex-showroom) in Delhi, INR 137,258 (ex-showroom) in Mumbai, INR 137,999 (ex-showroom) in Bangalore and INR 139,312 (ex-showroom) in Chennai.

The Rizta S with the 3.7kWh battery pack offers an IDC range of 159km. Launched in 2024, the Rizta now accounts for over 60 percent of Ather's total sales and has surpassed 100,000 units sold within one year of its release. This new variant expands the Rizta portfolio to four options.

Ravneet S. Phokela, Chief Business Officer, Ather Energy, said, "The Rizta has resonated strongly with families across the country, and the recent milestone of crossing 1 lakh Rizta scooters is a testament to the strong demand that we are seeing. As an ongoing quest to expand our portfolio addressing different consumer needs, we are excited to introduce the Rizta S with a higher range. With the new variant offering 159 km on a single charge, riders can confidently plan their day, making it ideal for commuters with high daily usage.”

The scooter maintains a 34-litre underseat storage, expandable by 22 litres with a Frunk accessory. It features a large seat and practical floorboard design. The 3.7kWh variant includes a 7-inch DeepView Display with Turn-by-Turn Navigation. Additional features for convenience and safety include AutoHold, Fall Safe, Emergency Stop Signal, Tow & Theft Alerts, Find my scooter and Alexa Skills. The scooter supports over-the-air (OTA) updates. Users can access Ather's fast-charging network, Ather Grid, which has over 3,900 charging points.

The Rizta S with the 3.7kWh battery pack is available with the 'Ather Eight70’ warranty programme, providing 8 years or 80,000 km coverage, guaranteeing a minimum of 70 percent battery health.

Comments (0)

ADD COMMENT

Link Copied!