The responses to the new EV policy announced by the Indian Government from the concerned industry stakeholders and leaders provide not just a good insight into how various factors are at play but also how other nations around the world are looking at proliferation of EVs. 

Regarding the new EV policy, the Mahindra spokesperson has said that it reinforces the ‘Make in India’ momentum, with requirements of bank guarantees, minimum investment commitment and local value addition. This will help accelerate the EV ecosystem in India. Our Born Electric SUVs are on track to be launched in Jan 2025 with cutting-edge technology. Our products will speak for themselves. 

Sunjay Kapur, Chairman, Sona Comstar, and Deputy Chair, CII Northern Region, expressed, "The approval of the new E-Vehicle policy marks a pivotal moment in our nation's mobility landscape. This progressive step not only solidifies India's position as a manufacturing hub for EVs but also fosters a conducive environment for global players to invest in our burgeoning market.”

“With a minimum investment threshold and a clear roadmap for domestic value addition, this policy underscores the government's commitment to nurturing a robust EV ecosystem. It heralds a new era of innovation and accessibility to cutting-edge technology and amplifies the 'Make in India' initiative. By incentivising local manufacturing and fostering healthy competition, this policy will not only accelerate the adoption of EVs but also bolster economic growth by way of reducing our reliance on imported crude oil and mitigating environmental impact, particularly in urban areas,” he averred. 

Dinesh Arjun, Co-founder and CEO at Raptee, said, “The recent announcement of the Electric Mobility Promotion scheme represents a positive step towards continuing support to accelerate the adoption of electric vehicles (EVs). This timely initiative comes as the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme draws to a close by 31st March 2024, providing a crucial 4-month transition period for the industry to stabilize.” 

“Going by the long-term objective of self-sustenance of the EV industry, the Government has been gradually reducing the FAME subsidy. The last reduction was in May 2023, and the balance funds available were distributed for the vehicles sold till March 2024. The current FAME subsidy is around INR 22,500 per two-wheeler until 31st March 2024. From 1st April 2024, the Electric Mobility Promotion scheme kicks in with a further reduced subsidy of INR 10,000 per two-wheeler till July end. This sends a clear signal that, while the FAME scheme cannot be extended, the Government is here to ensure a smooth transition to a self-sustainable business model by the OEMs. This move reflects a pragmatic approach towards gradually weaning the industry off heavy subsidies, allowing it to sustain itself over the long run,” he added. 

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Two-wheeler industry veteran Roy Kurian has joined Revolt Motors as President. This marks the second innings for Kurian at Revolt Motors; he had previously held a brief stint in January 2023, before joining Montra Electric as its Chief Executive Officer.

Kurian is a seasoned C-suite executive known for his deep expertise in the automotive and mobility sectors, specialising in business turn-arounds and scaling operations, particularly within the electric vehicle (EV) landscape.

He spent over a decade at India Yamaha Motor from 2007 to 2019, growing to the ranks of Senior Vice-President Sales Marketing. He had joined Tork Motors in 2019 spending over a year at the electric motorcycle company before joining Ampere Electric Vehicles as COO and Executive Director Electric Mobility.

In his new role, he will lead RattanIndia Enterprises-led Revolt Motors, which has been focussing on expanding its market share in the electric two-wheeler space.

For CY2025, Revolt MotoCorp has sold around 8,164 electric two-wheelers as compared to 9,955 units in CY2024. At present, Revolt MotoCorp’s product portfolio includes – Revolt RV1, Revolt RV1+, Revolt BlazeX, Revolt RV400BRZ and Revolt RV400 in the electric motorcycle segment.

conventional two-wheeler leadership at a major international brand, followed by a concentrated pivot into high-growth, executive roles across the Indian EV ecosystem, culminating in multiple tenures as CEO and President. He possesses proven skills in executive management (CXO), strategic sales, marketing, and operational leadership.

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Refex Mobility, the clean mobility arm of the Refex Group, has launched its operations in Delhi NCR, committing to fast-track clean corporate transportation in the region. The launch event was attended by the Union Minister of New and Renewable Energy, Prahlad Joshi, along with other dignitaries.

The company plans to deploy over 400 new four-wheeler clean-fuelled vehicles in Delhi NCR within the next three months, enhancing its presence across India.

Refex Mobility is looking to use its Delhi NCR launch as a springboard to scale into Tier-1 and Tier-2 cities nationwide. The firm currently operates a fleet of over 1,400 all-electric four-wheeler vehicles across Chennai, Bengaluru, Hyderabad and Mumbai, serving more than 70 leading corporates from sectors including BFSI, IT/ITES, e-commerce and telecom. The company, supported by over 200 employees, has already abated 3.5 million kilograms of tailpipe CO2 emissions since its inception.

Union Minister Prahlad Joshi commended the company's initiative, emphasising the need for solar-powered EV fleets: “Under the visionary leadership of Prime Minister Narendra Modi, India is advancing rapidly towards clean energy and sustainable mobility. To truly unlock the promise of electric vehicles and smart energy-efficient transportation, we must ensure they are powered by the sun. I urge corporates to lead the way by adopting solar-based charging for their EV fleets, thereby reducing oil imports, cutting emissions, and building greener, healthier cities in line with their ESG commitment.”

Anil Jain, Chairman & Managing Director, Refex Group, said, "Delhi NCR is not just an expansion for us but it is a commitment to scale. Within a couple of quarters, we will create one of the largest corporate clean-mobility fleets in the region. At Refex, we believe in diversification with responsibility, and Green Mobility is one of the most critical pillars of our sustainability journey."

Anirudh Arun, CEO, Refex Mobility, added, “At Refex Mobility, we are reimagining what reliable and responsible mobility means for India. Our promise is built on three pillars - dependable fleets that corporates can count on, exceptional experiences for every rider, and a deep commitment to sustainability and our driver partners. With our entry into Delhi NCR, we are proud to bring this ethos to the capital, as we continue shaping a cleaner and more trusted future for urban mobility.”

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Yuma Energy, one of India's fastest-growing Battery-as-a-Service (BaaS) providers, has announced a major partnership with Hindustan Petroleum Corporation (HPCL) to rapidly scale its battery swapping network across the country. HPCL is one of India's largest energy companies, boasting a vast network of over 24,000 retail outlets.

By leveraging HPCL's extensive footprint, Yuma Energy aims to gain a strategic advantage, allowing it to deploy its AI-driven battery swapping stations in high-demand locations – from major metro areas to Tier-2 towns.

This move aims to give riders, delivery fleets and businesses instant and reliable energy access that is as quick as traditional refuelling.

Yuma Energy will use HPCL's retail network to deploy its ‘Yuma Stations’ strategically based on real-time demand. This demand-responsive model ensures that EV users – including e-rickshaw drivers, gig-economy partners, and commuters – are always close to a fully charged battery.

The partnership directly addresses the key challenge of energy network infrastructure that needs to keep pace with India's accelerating EV adoption, particularly in the two- and three-wheeler segments. For HPCL, the alliance allows the company to diversify its business into future-ready energy solutions.

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Kinetic Green Energy and Power Solutions has introduced the E-Luna Prime, an electric two-wheeler designed for India's commuter motorcycle market. The new model builds on the success of the E-Luna, which has sold over 25,000 units since its launch.

The E-Luna Prime, the company shared, is engineered to meet the needs of millions of commuters, offering an affordable and practical solution for both urban and rural environments. It features rugged 16-inch alloy wheels, a digital cluster and a spacious front-loading area. The electric two-wheeler is available in two variants with ranges of 110 km and 140 km, prices starting at INR 82,490 (ex-showroom).

According to Kinetic Green, the E-Luna Prime offers significant savings compared to conventional petrol-based motorcycles. The total cost of ownership is estimated at just INR 2,500 per month, which includes the EMI and running expenses. This is a fraction of the estimated INR 7,500 monthly cost for a traditional ICE two-wheeler, potentially saving consumers up to INR 60,000 annually.

Dr Sulajja Firodia Motwani, Founder & CEO, Kinetic Green, said, "We are delighted to unveil the E-Luna Prime, that embodies our commitment to transforming the future of personal mobility in India. Building on the resounding success of our E-Luna series, which has garnered widespread acclaim from thousands of satisfied customers, the E-Luna Prime represents a significant leap forward in our pursuit of innovation and customer-centricity."

Dr. Motwani added that extensive consumer research revealed an opportunity to create "India's most affordable yet aspirational mobility solution for the fastest growing commuter motorcycle segment." She stated, "The E-Luna Prime, with its industry-leading features along with the winning proposition of INR 2,500 monthly ownership cost, exemplifies our commitment to address the evolving and unmet customer needs by leveraging cutting-edge electric vehicle innovations."

The E-Luna Prime is available in six colours and will be sold through Kinetic Green's network of over 300 dealerships across the country.

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