The International Finance Corporation (IFC) has announced a USD 20 million equity investment in Transvolt Mobility (Transvolt) as part of a larger USD 50 million financing round.

This marks IFC's first equity investment in an electric vehicle platform globally. The investment aims to enhance urban transport access, scale EV production and strengthen India's electric mobility ecosystem.

Transvolt aims to deploy the funding towards expanding its electric fleet to 3,500 vehicles and create 8,200 jobs over the next five years. It also aims to deploy 8,000 electric heavy commercial vehicles, including buses and trucks, across India.

Dheeraj Jhawar, Director and Co-Founder, Transvolt Mobility, said, "We are delighted and honoured by the trust IFC has shown in our company to develop and deploy EV fleets across India. This investment strengthens our resolve to build a scalable, sustainable commercial EV platform. With IFC's support, we aim to accelerate the transition to sustainable transport and build inclusive solutions that are aligned with national and global sustainability goals."

Debasis Mohanty, CEO and Co-founder, Transvolt Mobility, added, "Transvolt is India's first integrated and OEM-agnostic EV platform that owns and operates electric buses and trucks for both government and private sector clients. The company is focused on delivering zero-emission mobility solutions aligned with global sustainable transportation goals."

Transvolt stated that India's push for clean mobility targets electrifying 800,000 buses, replacing 10 percent of diesel trucks with 400,000 electric trucks and achieving 18 percent electrification of small commercial vehicles by deploying 111,000 e-SCVs. This transition presents an opportunity to invest in scalable EV solutions and mobilise an estimated USD 200 billion to meet national targets.

Vikram Kumar, IFC's Regional Industry Director for Infrastructure and Natural Resources in Asia and the Pacific, said, "India's transition to sustainable transport hinges on scalable solutions and this investment leverages private sector innovation and technological advances to drive sustainable transportation. Transvolt has been a key partner of IFC, and through our collaboration, we aim to enhance market competitiveness in the sector by enabling the electrification of public and private fleets operated by municipalities and corporations, demonstrating the commercial viability of electric fleets, and expanding access to quality urban transport."

Imad N Fakhoury, IFC's Regional Director for South Asia, said, "Accelerating urban mobility and last-mile connectivity is critical to India's development goals. Our investment in Transvolt will drive the adoption of EVs, especially buses, as they remain the preferred and affordable mode of transportation across India. As IFC's first-ever equity investment in an EV platform, in the country and globally, it reinforces our commitment to India's EV roadmap, supports the country's transition goals, enables job creation, while contributing to long-term economic growth. IFC's private sector solutions such as e-mobility are key to World Bank Group's approach to support Government of India's urban transformation agenda."

Founded in FY2023, Transvolt is claimed to has deployed 500 e-HCVs across various segments, including municipal corporations, corporate employee transportation and haulage for cement manufacturers. It is an OEM-agnostic EV platform, collaborating with multiple OEMs and EV-charging partners to meet project requirements. The company has also established an ecosystem for EV-charging solutions through tie-ups with Charge Point Operators (CPOs) and O&M partners across India.

Comments (0)

ADD COMMENT

Link Copied!

Ather Energy, a leading electric two-wheeler manufacturer in India, has announced the Ather Service Carnival, a nationwide service initiative for its customers. The initiative is scheduled from 9^th October to 18^th October.

The carnival includes benefits across all Ather service centres to encourage customers to prepare their scooters for the festive season.

Customers receive a free 15-point vehicle health check-up, which reviews brakes, tyres, suspension and electronics. The company is also offering discounts: 10 percent off on paid labour and brake pads, 15 percent off on painted body parts and 20 percent off on polish services. Ather has over 400 service centres across the country as of 30 September 2025.

The automaker has introduced initiatives to make scooter ownership simple, including Ather Care service plans and Ather ExpressCare. The company also launched Gold Service Centres, which are facilities that provide quicker service at no extra cost to owners.

Ather Energy is also expanding its retail network. Last month, the company exceeded 500 Experience Centres (ECs) nationwide and plans to reach 700 ECs by the end of FY2026.

The company recently produced its 500,000th vehicle from its manufacturing plant. Ather operates two plants in Hosur, Tamil Nadu, for vehicle assembly and battery production, and is setting up a third facility, Factory 3.0, in Bidkin, Maharashtra.

Comments (0)

ADD COMMENT

Link Copied!

Indofast Energy, a provider of battery-swapping solutions, has partnered e-Sprinto, an electric two-wheeler brand, to deploy 20,000 electric two-wheelers across India by 2026.

The collaboration will integrate e-Sprinto’s vehicles with Indofast Energy’s battery-swapping network. This synergy offers delivery partners a two-minute battery swap solution, removing charging downtime. The deployment will focus on quick commerce, e-commerce and food delivery sectors by establishing infrastructure along high-demand corridors.

Anant Badjatya, CEO, Indofast Energy, said, "We are thrilled to partner with e-Sprinto, an OEM that shares our vision for a sustainable and accessible electric future. Having established ourselves as the default choice for fleet operators in battery swapping, this collaboration demonstrates our readiness to transition from B2B to B2C segments, showcasing the strength and scalability of our infrastructure. By integrating e-Sprinto's high-quality vehicles with our network, we are expanding our reach across diverse customer segments and accelerating our ambitious EV deployment targets, further solidifying our leadership in India's electric mobility revolution.”

Atul Gupta, Co-Founder and Director, e-Sprinto, said, "Our collaboration with Indofast Energy is nothing short of a game-changer for e-Sprinto and the broader EV market. Indofast Energy's extensive battery-swapping network perfectly complements our vehicles, offering customers the unparalleled convenience and efficiency. By deploying 20,000 vehicles with Indofast Energy in 2026, we are confident this partnership will make electric mobility the preferred choice for both commercial and personal transportation across India, delivering reliable, sustainable, and economically viable solutions for all."

The alliance is a step in Indofast Energy’s plan to deploy 2,750 swap stations and support 1.5 lakh vehicles by March 2026. The company’s mission is to establish 10,000 swapping points across over 40 Indian cities in the next three years. Indofast Energy has over 1,000 battery-swapping stations in 10 states and 22 cities.

Comments (0)

ADD COMMENT

Link Copied!

Montra Electric, the clean transport brand from the Murugappa Group, has launched the updated Super Auto electric passenger three-wheeler.

The vehicle features LED headlamps to increase visibility, and radial tubeless tyres to provide better grip, stability and lower maintenance costs. A re-engineered suspension system also aims to ensure a smoother drive.

The Super Auto now comes with Montra Electric’s in-house developed ‘One Montra Electric’ (1M) connected software platform. This provides drivers with access to vehicle performance data, charging station locations and digital features.

The vehicle offers a range of 160 km per charge and is supported by the company’s 3S (Sales, Service, Spares) network across over 120 markets. Till date, the company has sold over 13,000 units of the Super Auto in India.

Deependra Sharma, CEO (Designate), Montra Electric Last Mile (TI Clean Mobility), said, “Every new product at Montra Electric is created with a clear goal, to make electric mobility more efficient, reliable, and valuable for drivers. The all-new Super Auto reflects our engineering focus on comfort, safety, and durability, while keeping affordability intact, making clean mobility both practical and profitable for drivers and fleet operators.”

The Super Auto is available in White, Blue, and Green, and a Black Edition with decals.

Comments (0)

ADD COMMENT

Link Copied!

JSW MG Motor India has launched the Windsor Inspire Edition, a limited-run model of its popular e-SUV, marking one year since the car’s launch.

Limited to just 300 units of the edition, the Windsor Inspire Edition celebrates the EV crossing the sales milestone of 40,000 units in under a year. The model was revealed by Nitin Gadkari, Union Minister of Road Transport & Highways, at his residence in Delhi.

Mechanically unchanged, the Inspire Edition features a dual-tone Pearl White with Starry Black theme on the exterior. It has all Black alloy wheels with rose gold claddings, and black ORVMs. It also carries Inspire badging. The interior uses Sangria Red and Black leather upholstery, embroidered Inspire insignia on the headrests, and gold accents.

The edition comes with an accessory pack, featuring Rose Gold styling elements on the front grille, body side mouldings and bumper corner protectors. The pack includes 3D mats, Inspire cushions, rear window sunshades and a leather key cover. An intelligent convenience kit, the Drive Mate Pro+, is also included. Optional accessories such as a Skylight Infinity View glass roof and illuminated sill plates will be available.

Nitin Gadkari, said, “I have always believed that clean mobility is not only essential for our environment, but also an opportunity for India to lead the world in sustainable innovation. It is heartening to see brands like JSW MG Motor India embrace this vision with such commitment. The Windsor Inspire Edition is a symbol of how inspiration can translate into action — and how every step forward in EV adoption brings us closer to a greener tomorrow.”

Anurag Mehrotra, Managing Director, JSW MG Motor India, said, “At JSW MG Motor India, we are constantly thinking ahead – creating symbols of aspiration and progress. The Windsor Inspire Edition is a tribute to the incredible journey our customers and India’s EV movement have embarked on with us. Having crossed over 40,000 units in just one year, the love and trust for the Windsor have been the driving force behind this edition. Every line and every detail reflect our unwavering commitment to innovation, design excellence, and a sustainable future. The Inspire Edition is not just a collector’s car — it is a bold statement of ambition, progress, and the limitless possibilities of green mobility in India.”

Comments (0)

ADD COMMENT

Link Copied!